Deutsche Bank Comments on American International Group's (AIG) Q1
- Top 10 News for 4/20 - 4/24: Comcast Cancels Time Warner Deal; Teva/Mylan/Perrigo Saga Continues; Big Names, Solid Earnings
- Comcast (CMCSA) Terminates Time Warner Cable (TWC) Merger Agreement (CHTR)
- Amazon.com (AMZN) Tops Q1 EPS by 1c, Sales Beat
- Mylan (MYL) to Begin Cash, Stock Tender of Perrigo (PRGO)
- Biogen (BIIB) Misses Q1 EPS by 6c; Revs Light
Deutsche Bank maintained a Hold rating on American International Group (NYSE: AIG) with a price target of $55. Comments follow Q1 results.
Analyst Joshua Shanker said, "AIG's result compared with our forecast of $1.02 and Street consensus of $1.07. While a sizable EPS beat, the differences with our numbers largely relate to outsized performance in capital market sensitive line items like $469mm in mark-to-market gains on the DIB/GCM business (vs. none in our model) and $862mm in alternative/other investment income (vs. our $782mm). These two items combine for $0.21 in earnings. We were forecasting about $0.84 in "normalized" core earnings, and AIG produced approximately $0.79. The slow progress on core earnings growth is key to our Hold recommendation."
Shares of American International Group closed at $52.72 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bernstein's Sacconaghi Previews Apple (AAPL) Q2; Raises Est, PT and Sees Large Capital Return Plan
- Amazon (AMZN) PT Raised to $460 at Evercore ISI; AWS More Profitable Than Expected
- UPDATE: Trading Radar for 4/27: Apple (AAPL), Lab Corp. (LH), General Growth (GGP), Crane (CR), W.R. Berkley (WRB) Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesDeutsche Bank, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!