Morgan Stanley has revised its price target for MetLife (MET, Financial), reducing it from $109 to $94 while maintaining an Overweight rating on the stock. This adjustment comes as part of a broader reevaluation of the firm's life insurance coverage.
The decision was influenced by a 3% decrease in the firm's first-quarter earnings per share (EPS) estimates and a 4% reduction in its 2025 EPS forecasts. These changes reflect a challenging operational landscape anticipated for underwriting-focused companies, despite their relative insulation from equity market movements.
Overall, while some life insurance companies face varying degrees of revisions, those less affected by market volatility have also seen downward adjustments in their estimates. Morgan Stanley's analysis suggests these companies are likely to encounter a more demanding business environment moving forward.
