Deutsche Bank Raises Price Target on AIG (AIG), Sees Larger Share Buybacks
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Price: $44.81 -0.73%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
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Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
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Deutsche Bank raised its price target on Buy-rated American International Group (NYSE: AIG) to $40 citing increased confidence following meetings with management.
The firm believes AIG is likely to buy back far more of its own shares than the market price would indicate, also at a far faster pace.
"We believe $15-20 billion (or even more) worth of buybacks over the next twelve months is achievable as the Treasury and AIG sell off the remaining non-core assets," the firm said. "We believe BVPS growth in excess of 30% is possible if shares continue to hover around their current price."
For an analyst ratings summary and ratings history on American International Group click here. For more ratings news on American International Group click here.
Shares of American International Group closed at $28.27 yesterday, with a 52 week range of $19.18-$37.39.
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The firm believes AIG is likely to buy back far more of its own shares than the market price would indicate, also at a far faster pace.
"We believe $15-20 billion (or even more) worth of buybacks over the next twelve months is achievable as the Treasury and AIG sell off the remaining non-core assets," the firm said. "We believe BVPS growth in excess of 30% is possible if shares continue to hover around their current price."
For an analyst ratings summary and ratings history on American International Group click here. For more ratings news on American International Group click here.
Shares of American International Group closed at $28.27 yesterday, with a 52 week range of $19.18-$37.39.
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