Wells Fargo Upgrades American International Group (AIG) to Outperform; Becoming Independent From Government

Wells Fargo upgraded American International Group (NYSE: AIG) from Market Perform to Outperform, price target range raised from $40-45 from $27-30.

Analyst, John Hall, said, "Upgrade to reflect the likelihood that the company will be independent from the US Government over the course of the next year. To this end, we expect AIG to become an increasingly active capital manager, which could be accretive to the company’s earnings per share and return on equity. Our EPS estimates for 2012 and 2013 increase to $3.38 and $3.06 from $2.50 and $2.80, respectively."

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 $31.99 yesterday.

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