Market Overview

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

Share:
Related AIG
Watch These 7 Huge Put Purchases In Thursday Trade
12 Stocks To Watch For August 3, 2017
Glendon Capital Management LP Buys CF Industries Holdings Inc, VEREIT Inc, Five Point Holdings ... (GuruFocus)

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
Aug 2017Atlantic EquitiesDowngradesOverweightNeutral
May 2017Morgan StanleyUpgradesEqual-WeightOverweight
Mar 2017Deutsche BankDowngradesHoldSell

View More Analyst Ratings for AIG
View the Latest Analyst Ratings

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

 

Related Articles (AIG)

View Comments and Join the Discussion!