Buckingham pulls bearish outlook on AIG
Apr. 27, 2018 8:04 AM ETAmerican International Group, Inc. (AIG)AIGBy: Stephen Alpher, SA News Editor7 Comments
- 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.