As previously reported, Sandler O'Neill analyst John Barnidge downgraded MetLife (MET) to Hold from Buy ahead of the start of the tenure of new CEO Michel Khalaf, stating that the changeover at the top increases the possibility of execution risk and raises the potential for an asset management acquisition that "the investment community does not greet with enthusiasm." He also views MetLife shares as appropriately valued and thinks Prudential (PRU) shares are more attractively valued than Metlife at current levels, Barnidge added. He maintains a $50 price target on MetLife shares.