Sterne Agee Reiterates Buy Rating, $40 PT on American International Group
In a report published Wednesday, Sterne Agee Group reiterated its Buy rating and $40.00 price target on American International Group (NYSE: AIG).
Sterne Agee noted, “Post the sale of AIG's remaining stake in AIA (1299-HKG, HK$30.70, N/R), we are formally updating our 4Q12E EPS. With $6.5b of proceeds from the sale, we update our thoughts on valuation and turn our attention to deleveraging actions, including expected call of $1.1b of hybrids which became callable at par today.”
American International Group closed on Tuesday at $35.50.
Latest Ratings for AIG
|Nov 2014||Keefe Bruyette & Woods||Maintains||Market Perform|
|Nov 2014||Bank of America||Maintains||Buy|
|Nov 2014||Credit Suisse||Maintains||Outperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.