MetLife

MET · NYSE

$101.18+$1.60 (+1.61%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $99.58

MET analyst rating

BuyConsensus of 16 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy14
Hold2
Underperform0
Sell0

12-month price target · 19 analysts

Average $105.41 (+4.2% upside)

Low: $73.92
Now: $101.18
High: $124.95

Upgrades and downgrades

The latest rating actions, newest first

MET analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 15, 2026	Maintains	Overweight	$108.00 → $110.00	81%
Wells Fargo	Oct 12, 2026	Maintains	Overweight	$109.00 → $110.00	75%
Mizuho	Oct 7, 2026	Maintains	Outperform	$112.00 → $109.00	58%
Barclays	Oct 7, 2026	Maintains	Overweight	$97.00 → $111.00	61%
UBS	Oct 6, 2026	Maintains	Buy	$105.00 → $110.00	57%
TD Cowen	Oct 5, 2026	Maintains	Buy	$105.00 → $110.00	54%
Piper Sandler	Sep 22, 2026	Upgrade	Neutral → Overweight	$99.00 → $110.00	73%
Morgan Stanley	Aug 24, 2026	Maintains	Overweight	$103.00 → $111.00	59%
Wells Fargo	Aug 19, 2026	Maintains	Overweight	$101.00 → $109.00	75%
JP Morgan	Aug 11, 2026	Maintains	Overweight	$106.00 → $108.00	81%

The case for and against

Updated Oct 15, 2026

Bull case

MetLife is well positioned to deliver durable earnings growth because its mix is shifting toward capital-light, high-ROE businesses, with Group Benefits, Latin America, and MetLife Investment Management helping support a 16% adjusted ROE in 2025 and 17% in 1H26, both at the top end of its 15-17% target range. Its core franchises have strong competitive moats: Group Benefits leads the U.S. market with roughly 16% share, benefits from rising voluntary participation and client penetration, while RIS is seeing 3% liability growth in 1H26 and is expected to accelerate within a 3-5% target range in 2H26, aided by Chariot Re. The company also has meaningful upside from AI-enabled operating leverage, a favorable higher-rate backdrop, and strong international momentum, including Asia, Latin America, and EMEA, which together reinforce a positive long-term outlook.

Bear case

MetLife is vulnerable to earnings volatility because its life insurance and annuity franchise is highly exposed to interest rates, credit spreads, equity markets, and alternative investment returns, all of which can pressure NII, spread income, fee income, and reserve adequacy. Its business mix is concentrated in US Group Benefits and RIS at about 52% of 2025 adjusted earnings, while Asia, largely Japan, adds about 25% and Latin America about 14% of 2024 earnings, leaving results sensitive to wage growth, FX, and regional regulatory or geopolitical shocks. Despite trading at 9.6x 2026E P/E and 8.8x 2027E P/E versus peers at 10.3x and 9.3x, the outlook stays negative because competitive pressure, mortality normalization, and a reversal in recent investment tailwinds could compress margins and earnings.

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