02:50 PM EDT, 03/13/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price by $7 to $77, valuing MET shares at 7.8x our 2025 operating EPS estimate of $9.90 and at 8.8x our 2024 EPS estimate of $8.80 (lowered today by $0.15). Our revised target multiple compares to MET's one-year average forward multiple of 7.2x and a disparate peer group average of 8.9x. Following only a 0.6% rise in operating revenues in 2023 (on lower pension risk transfer activity), we forecast operating revenue growth between 4% and 7% in 2024 and 2025. However, there is not a lot of visibility in this forecast, since it assumes a rebound in pension risk transfer activity, the timing and magnitude of which is difficult to assess. Weighing this uncertainty with MET's premium valuation to historical levels, and with the expected positive impact that recent restructuring and cost cutting measures should have on margins in 2024 and 2025, we view the shares (currenlty yielding 2.9%) as fairly valued, but worth holding.