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MetLife share outperformance will return, says Piper Sandler
The Fly

MetLife share outperformance will return, says Piper Sandler

Piper Sandler analyst John Barnidge anticipates MetLife’s prior share outperformance to return with the life insurance universe having underperformed the S&P 500 in 2023. The life sector screens as attractively valued and MetLife is one of the few with cap size that is offering exposure not just to improving mortality but higher investment income, the analyst tells investors in a research note. The firm understands concerns about commercial real estate but believes it will take years to play out and may involve movement of investments from one asset class to the next. MetLife’s portfolio of businesses approach has typically allowed it to deliver stronger than expected earnings with relatively lower quarter-to-quarter earnings volatility, Piper contends. It keeps an Outperform rating on the shares with a $74 price target.

Published first on TheFly

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