NEW YORK (TheStreet) -- Shares of MetLife (MET) are advancing 2.01% to $57.32 after analysts at RBC Capital Markets upgraded the company today to "outperform" from "sector perform" with a price target of $68.
After meeting with CEO Steve Kandarian, the firm was lead to believe MetLife may launch another share repurchase on top of the $1 billion repurchase in quarter in its first quarter, according to the analyst note.
Additionally, the company may be better positioned than any other publicly traded life insurer to benefit from the rise in interest rates. This is because MetLife had to establish billions of dollars of reserves when interest rates were at their lows and is now in a position to release some of these reserves into earnings should rates rise further, analyst said.
MetLife provides life insurance, annuities, employee benefits, and asset management products in the U.S., Japan, Latin America, Asia, Europe, and the Middle East.
Separately, TheStreet Ratings team rates METLIFE INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate METLIFE INC (MET) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins."