MetLife price target lowered to $96 from $99 at BofA

BofA analyst Joshua Shanker lowered the firm’s price target on MetLife to $96 from $99 and keeps a Buy rating on the shares. Upon incorporating Q2 results in the firm’s model, BofA’s FY24-FY26 forecasts rise 2.3%, 3.6%, and 3.8%, respectively, but higher earnings forecasts are offset by peer group multiple contraction, the analyst tells investors.