Goldman Sachs Downgrades AIG (AIG) to Neutral, 'Limited Upside'

May 7, 2013 6:40 AM EDT
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Price: $65.53 +0.06%

Rating Summary:
    19 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Goldman Sachs downgraded American International Group (NYSE: AIG) from Buy to Neutral with a price target of $46.00. Analyst Michael Nannizzi said he sees limited upside in the stock.

"We continue to believe that AIG will see P&C margins improve and underwriting income rise, but following recent outperformance we believe that current shares now well reflect the fundamental story, particularly on the P&C side. Upside to shares will likely need to come from technical developments outside of P&C—namely capital deployment—and we are not confident that AIG’s priority for the next 12 months will shift towards buybacks until it has satisfied both rating agencies and regulators, the latter of which will reflect a yet undefined framework and timeline," said Nannizzi.

For an analyst ratings summary and ratings history on American International Group (NYSE: AIG) click here. For more ratings news on American International Group click here.

Shares of American International Group closed at $45.48 yesterday.

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