UPDATE: Deutsche Bank Maintains Buy on AIG, Sees Attractive Upside In Shares
In a report published Tuesday, Deutsche Bank maintained Buy rating on America International (NYSE: AIG) and increased target price from $41 to $47.
Deutsche Bank reported that, “AIG appears as a high beta risky name, but we believe the stock continues to hold attractive upside without significantly more risk than other insurers. We believe that bearish investors are focused too heavily on the low ROE and low EPS at AIG, ignoring the significant value to be unlocked by cash-generating assets that don't produce GAAP after-tax income. We are modifying our valuation approach and increasing our target price to $47 from $41.
America International shares closed at $37.06 on Monday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.