Market Overview

UPDATE: Sterne Agee Group Reiterates Buy Rating, Raises PT on American International Group

Share:
Related AIG
These 5 Financial Stocks Are Priced Below Book Value
Top 4 Stocks In The Property & Casualty Insurance Industry With The Highest Revenue
Dividend Achievers Top 20 Hits The Mark, Again (Seeking Alpha)

In a report published Wednesday, Sterne Agee Group reiterated its Buy rating on American International Group (NYSE: AIG), and slightly raised its price target from $39.00 to $40.00.

Sterne Agee noted, “We are cutting our 2013/14E EPS by ~9% reflecting lower than previously assumed buybacks. While AIG remains among our favorite ideas for longer-term investors, near-term catalysts are now difficult to identify particularly given AIG expects to be subjected to the Fed's 2013 stress testing. While we expect a positive outcome and continued ongoing capital management, we caution investors to temper buyback expectations until early-to-mid '13 post the stress test results.”

American International Group closed on Tuesday at $33.45.

Latest Ratings for AIG

DateFirmActionFromTo
Feb 2015BarclaysMaintainsOverweight
Feb 2015Deutsche BankMaintainsBuy
Jan 2015Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for AIG
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (AIG)

Around the Web, We're Loving...