AIG Higher Off Janney Capital Upgrade

American International Group

shares are trading higher by $$.99 at $54.38 in Wednesday's session. The catalyst for the rally is an upgrade from Neutral to Buy at Janney Capital. After a higher that cleared out the sellers at $54 level, it retreated but found support ahead of the upper-end of Tuesday's range ($53.71), only reaching $53.78, before resuming its move higher. The ensuing rally took the issue all the way $54.90 before more profit-takers came into the issue and have pushed it into the lower $54/30 area. The current high coincides with its February 4 high ($54.78).