Bank of America Merrill Lynch Has Buy on AIG

Bank of America Merrill Lynch is out with a research report on American International Group (NYSE: AIG) and it has a Buy rating and a $32 price target on shares.

In a note to clients, Bank of America Merrill Lynch writes, "AIG reported an operating loss of $1.60 per share, $1.24 below our $0.36 loss forecast (consensus was -$0.30). Operating earnings from each of the core operations (property/casualty and life) missed our forecast and a big write-down at ILFC along with a sizeable mark-to-market loss in ML III caused the shortfall."

Shares of AIG closed at $24.63 yesterday.