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Deutsche Bank downgrades MetLife on lack of near-term catalysts

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Deutsche Bank downgrades MetLife on lack of near-term catalysts

Deutsche Bank analyst Yaron Kinar has downgraded to "hold" from "buy"on expectation that 10-year yields are resetting due to the lack of near-term catalysts.

Although Kinar believes MetLife's separation plan is clearlypositive in the long term, he does not expect buybacks before 2017 given his viewthat the plan will not be executed before the year-end. Also, the analyst believesthe company will see higher balance sheet risk as it prepares for the separation.Kinar views more attractive opportunities following the separation, adding, however,that he expects both entities to see pressure immediately after the separation.

Kinar lowered the price target to $44.00 from $47.00. His EPSestimates are $5.35 for 2016 and $5.80 for 2017.