Buckingham pulls bearish outlook on AIG

  • Noting a cheap valuation and Q1 reports from Travelers and W.R. Berkley as pointing to possible improvement, analyst Amit Kumar upgrades AIG to Neutral from Underperform. He lifts his price target to $55 from $52.
  • AIG has been dead money for years in a rollicking bull market, and is down 6.8% YTD, but Kumar figures sideways action is now a worst-case scenario for the stock. Not much of an endorsement, but AIG bulls will take what they can get.
  • Source: Bloomberg
  • Shares up 0.3% premarket to $55.72.
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