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Street View: Metlife's long-term story intact despite "some noise" in Q3



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** MetLife MET.N reported a fall in Q3 adjusted profit on Weds due to weakness in insurer's group benefits business

** Shares down 3.94% to $79.90 premarket

** Analysts on avg rate MET "buy"; median PT $92 -LSEG data


TOP-LINE TRENDS STRONG

** Morgan Stanley ("overweight," PT $88) continues to believe in the earnings power despite "some noise this quarter"; says group benefits business headwinds should be manageable as trends normalise

** TD Cowen ("buy," PT: $97) says most underlying and top-line trends appear intact but a downtick in dental margins may last a few quarters

** Jefferies("buy," PT: $98) says new business trends were strong and expects co to guide to improvements in return on equity (ROE) and free cash flow (FCF) at investor day

** JP Morgan ("overweight," PT: $86) says it is still upbeat about MET's business trend as one quarter does not alter its view of the earnings power

** Says, "We expect MET's results to be marked by healthy group insurance margins, strong retirement spreads, and steady sales growth in the international business"



Reporting by Ragini Mathur in Bengaluru

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