Deutsche Bank Comments on American International Group's (AIG) Q1
- Aetna (AET) to Acquire Humana (HUM) for $37 Billion, or $230/Share
- Top 10 News for 6/29 - 7/2: Greece's Bark Bites Markets; Tesla's Q2 Sales Outpace; Major Insurance Merger Announced
- Yelp (YELP) Sale Process Said to Stall as CEO Changes Mind
- UPDATE: Nonfarm Payrolls Added 223K in June, Missing Views Amid Gains in Health Care, Retail Trade
- Kraft Heinz Co (KHC) Announces Completion of Merger; Updates on Next Steps; Announces Dividend
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
- Piper Jaffray Raises Price Traget on Acuity Brands (AYI) Following F3Q15 Results
- Deutsche Bank Upgrades Alliance Resource Partners (ARLP) to Buy
- Piper Jaffray Raises Price Target on Carter's (CRI) Following an in Depth Analysis
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!