After Sandler O’Neill and Morgan Stanley gave American International Group (NYSE: AIG) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Elyse Greenspan maintained a Buy rating on American International Group today and set a price target of $62. The company’s shares opened today at $48.61, close to its 52-week low of $47.87.
Greenspan wrote:
“We do point out that AIG did not comment on anything else related to the quarter, which we believe could be a sign that there are no other material charges (ie, a reserve charge or a large level of severe losses). We are not expecting a large reserve charge this quarter. For our review of AIG reserves go here. $ 2017A 2018E 2019E EPS Curr. Curr.”
According to TipRanks.com, Greenspan is a 3-star analyst with an average return of 4.2% and a 51.5% success rate. Greenspan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Renaissancere Holdings Ltd, and United Insurance Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for American International Group with a $63 average price target, representing a 29.6% upside. In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $65 price target.
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The company has a one-year high of $65.55 and a one-year low of $47.87. Currently, American International Group has an average volume of 4.65M.
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American International Group, Inc. engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement, Other Operations, and Legacy Portfolio.
