Modest decrease to 2018 EPS forecasts
Following MET's 2018 Outlook call, we have lowered our normalised EPS forecasts by 1-2%. The main impacts come from a slight delay in the expense savings that MET intends to generate following the spin-off of BHF as well as some slightly slower premium growth guidance in some divisions. While we continue to have a favourable view of the shift to less capital intensive operations, the process will be gradual and low interest rates continue to weigh on MET's remaining spread-based businesses. We retain our Neutral recommendation and price target of $55.Metlifecare and its subsidiaries are engaged in providing accommodation and care of the aged through the ownership and management of a retirement village which includes nursing homes, geriatric hospitals, apartments and villas. In addition, Co. provides a number of ancillary and support services ranging from domestic services, such as household cleaning and meals preparation, through to the provision of specialist home nursing care.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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