Scotia Capital Has Sector Outperform on MetLife Following Earnings

Scotia Capital is out with a research report on MetLife (NYSE: MET) and it has a Sector Outperform rating and a $42 price target on shares.

In a note to clients, Scotia Capital writes, "We believe a key catalyst to a higher valuation is a lower beta for MET and this presentation should help in that regard. We continue to expect the company to outperform expectations based on robust accretion from Alico, and continued strength in core businesses creating attractive ROE expansion. The sale of the bank depository business could remove a large regulatory overhang, opening the door to capital management. Our rating remains 1-Sector Outperform with a one-year price target of $42."

Shares of MET closed at $36.82 yesterday.