01:45 AM EDT, 05/03/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price of $77, valuing the shares at 8.1x our '25 operating EPS estimate of $9.45 (trimmed today by $0.45) and at 9.2x our '24 EPS estimate of $8.37 (cut by $0.43), versus the one-year average forward multiple of 7.3x and a peer average of 7.2x. Q1 operating EPS of $1.83 versus $1.52 lagged our $2.26 EPS estimate but was in line with the $1.82 consensus view. Results reflected a 7.7% rise in operating revenues on 4% growth in premiums and 17% higher investment income, and we now see operating revenue growth of 5% to 8% in '24 and '25. Margins were mixed, with Q1 profits down 7% in Group Benefits, flat in Retirement, up 51% in Asia, up 8% in Latin America, and up 28% in EMEA. At current levels, the shares (which yield 3.1%) trade at 8.4x our '24 EPs estimate, a premium to peer and historical averages. We view the shares as fairly valued, but think MET's above-peer rate of top-line growth and its attractive overseas franchise will support the shares' premium valuation to peers.