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MET

MetLife

$48.31

-0.46 (-0.94%)

, BHF

Brighthouse Financial

$56.72

-0.18 (-0.32%)

08:21
08/10/17
08/10
08:21
08/10/17
08:21

MetLife to hold special shareholder meeting

MetLife (MET) announced that it will hold a special meeting of its common stock shareholders on Thursday, October 19, to approve changes to dividend payment tests in the company's charter. These changes would avoid potential dividend and common stock repurchase restrictions which could occur as a result of the August 4 spin-off of Brighthouse Financial (BHF). Shareholders will also be asked to approve the adjournment of the special meeting, if necessary or appropriate, to solicit additional proxies. The special meeting of MetLife shareholders will begin at 2:30 p.m. in New York City. MetLife shareholders of record at the close of business on September 5 will be entitled to vote at the special meeting.

MET

MetLife

$48.31

-0.46 (-0.94%)

BHF

Brighthouse Financial

$56.72

-0.18 (-0.32%)

  • 14

    Aug

  • 15

    Aug

MET MetLife
$48.31

-0.46 (-0.94%)

07/24/17
JPMS
07/24/17
INITIATION
Target $78
JPMS
Neutral
Brighthouse Financial initiated with a Neutral at JPMorgan
JPMorgan analyst Jimmy Bhullar started MetLife (MET) spinoff Brighthouse Financial (BHF) with a Neutral rating and $78 price target. The analyst views the valuation as attractive but has a cautious outlook for business trends.
05/25/17
FBRC
05/25/17
UPGRADE
Target $58
FBRC
Outperform
MetLife upgraded to Outperform from Market Perform at FBR Capital
FBR Capital analyst Randy Binner upgraded MetLife to Outperform and raised his price target for the shares to $58 from $54. The analyst believes the Brighthouse spin, which he sees as progressing, sets up an attractive total return story.
03/06/17
03/06/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. MetLife (MET) downgraded to Neutral from Buy at BofA/Merrill with analyst Seth Weiss saying shares are now trading above the level of the disappointing fourth quarter earnings report and prefers Prudential (PRU) given it benefits more from improving interest rates and easing regulations. 2. Procter & Gamble (PG) downgraded to Neutral from Buy at B. Riley with analyst Linda Bolton Weiser saying that while the stock is up 11% from the December low, the company's fundamentals have weakened. The analyst cut her price target for the shares to $91 from $106. 3. GoPro (GPRO) downgraded to Sell from Neutral at Goldman with analyst Simona Jankowski saying the company faces "significant challenges" amid camera market saturation, product rollout issues in the holiday season, and a disappointing entry into the drone market. The analyst sees risk to consensus estimates and views the stock as overvalued. 4. Hawaiian Electric (HE) downgraded to Underperform from In Line at Evercore ISI with analyst Greg Gordon saying he believes the risk/return for shares is skewed to the downside and estimates a "significantly lower total return" compared to other utilities he covers. He maintains a $31 price target on Hawaiian Electric shares. 5. Akorn (AKRX) downgraded to Hold from Buy at Deutsche Bank with analyst Gregg Gilbert saying the risk/reward is more balanced following the recent rally in the shares. Upside from current levels will have more to do with the "hard-to-call dynamics of new product approvals vs. base business erosion," Gilbert tells investors in a research note. He cut his price target for the shares to $24 from $28. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/17
03/06/17
DOWNGRADE
Target $59

Neutral
MetLife downgraded to Neutral at BofA/Merrill
As previously reported, BofA/Merrill downgraded MetLife (MET) to Neutral from Buy and maintained its $59 price target. Analyst Seth Weiss said shares are now trading above the level of the disappointing Q4 earnings report and prefers Prudential (PRU) given it benefits more from improving interest rates and easing regulations.
BHF Brighthouse Financial
$56.72

-0.18 (-0.32%)

08/09/17
08/09/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alcoa (AA) initiated with a Neutral at Credit Suisse. 2. Brighthouse Financial (BHF) initiated with an In Line at Evercore ISI. 3. Sage Therapeutics (SAGE) coverage resumed with a Buy at Stifel. 4. Pyxis Tankers (PXS) initiated with a Buy at Aegis. 5. Triumph Bancorp (TBK) assumed with an Outperform at Keefe Bruyette. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/09/17
EVER
08/09/17
INITIATION
Target $68
EVER
In Line
Brighthouse Financial initiated with an In Line at Evercore ISI
Evercore ISI analyst Thomas Gallagher initiated Brighthouse Financial with an In Line and a $68 price target given weaker visibility of free cash flow for the next few years, and volatility of both GAAP and statutory net income.
08/08/17
08/08/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Amazon.com (AMZN), Alphabet (GOOG, GOOGL), and Facebook (FB) were reinstated with a Buy at Mizuho, while eBay (EBAY) and Twitter (TWTR) were reinstated with an Underperform. 2. Broadridge (BR) initiated with a Neutral at DA Davidson. 3. Brighthouse Financial (BHF) initiated with an Overweight at Barclays. 4. Akcea Therapeutics (AKCA) WAS initiated with an Outperform at BMO Capital and Cowen, an Outperform at Wells Fargo, as well as a Buy at Stifel. 5. Lockheed Martin (LMT) and Raytheon (RTN) were initiated with an Overweight at Morgan Stanley, while Northrop Grumman (NOC) was initiated with an Equal Weight, and General Dynamics (GD) was initiated with an Underweight at the firm. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/08/17
LEHM
08/08/17
INITIATION
Target $72
LEHM
Overweight
Brighthouse Financial initiated with an Overweight at Barclays
Barclays analyst Jay Gelb started Brighthouse Financial with an Overweight rating and $72 price target. The current valuation is "seems too cheap to ignore," the analyst contends. He believes investor sentiment is already unfavorable with potential to improve.

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