MetLife price target raised to $102 from $96 at BofA

BofA analyst Joshua Shanker raised the firm’s price target on MetLife (MET) to $102 from $96 and keeps a Buy rating on the shares after management laid out a new five-year plan called “New Frontier” during the company’s recent investor day presentation. MetLife guided to double-digit annual EPS growth, a 15-17% ROE and a cumulative $25B of free cash flow over the plan, notes the analyst, who says that interpolating New Frontiers guidance into the firm’s “already above-consensus EPS forecasts” leads BofA’s EPS outlook to rise by 1.1% for 2025 and 2.3% for 2026.