MetLife price target raised to $95 from $89 at Jefferies

Jefferies raised the firm’s price target on MetLife to $95 from $89 and keeps a Buy rating on the shares. MetLife will present its next five-year plan, referred to as “New Frontier”, on December 12, notes the analyst, who says that recent commentary and financial performance “suggest to us that MET could set a new bar for sustainable 16-18% ROE,” which the firm calls “fairly unprecedented in US Life post GFC.” A 16-18% sustainable ROE, combined with diminishing variable investment income, or VII, and commercial real estate, or CRE, concerns could drive investor interest and upside in the stock, the analyst argues.