Deutsche Bank Initiates Coverage On AIG

Deutsche Bank is initiating coverage on American International Group (NYSE: AIG) with a Buy rating and a price target of $34.

According to Deutsche Bank, “AIG is the industry leader in P&C insurance markets, aircraft leasing and is a formidable competitor in the U.S. life and retirement market, particularly in fixed annuities. The company also has significant exposure through businesses and investments to the growing PacRim countries. Following restructuring, a new consistency of earnings is poised to be the main driver of stock performance.”

AIG closed yesterday at $27.32.