Insurance giant Metlife Inc. (MET) caught some further bullish commentary from analysts at Bank of America/Merrill Lynch on Monday.

The firm said it added MET to its prestigious “US 1″ List with a $56 price target, suggesting a massive 46% upside to the stock’s Friday closing price of $38.46. Bank of America/Merrill Lynch noted it expects substantial share buybacks and dividend increases from the company in 2012, which will be big catalysts for the stock this year.

Metlife shares, which have jumped more than 23% since the start of 2012, rose 24 cents, or +0.6%, in premarket trading Monday.

The Bottom Line
Shares of Metlife (MET) have a 1.92% dividend yield, based on Friday’s closing stock price of $38.46. The stock has technical support in the $35 price area. If the shares can firm up, we see overhead resistance around the $40-$42 price levels.

Metlife Inc. (MET) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.