Insurance giant MetLife, Inc. ( MET
The firm said it now expects MET shares to reach $50, which represents an expected upside of 28% over the stock's Friday closing price of $38.94.
Citigroup also boosted its earnings estimates for the company, and maintained its "Buy" rating, citing lower expected long-term interest rates.
MetLife shares were mostly flat in premarket trading Monday.
The Bottom Line
We had removed shares of MET from our recommended list back on Oct.1, 2009, when the stock was trading at $38.07. The company has a 1.90% dividend yield, based on Friday's closing stock price of $38.94. The stock has technical support in the $34 price area. If the shares can firm up, we see overhead resistance around the $40-$42 price levels. We would remain on the sidelines for now.
MetLife, Inc. ( MET ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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