Credit Suisse Upgrades American International Group (AIG) to Outperform

Credit Suisse upgraded American International Group (NYSE: AIG) from Neutral to Outperform with a price target of $75.00 (from $61.00).

Analyst Ryan Tunis wrote: "..we have a more favorable view of the P&C turnaround story with greater appreciation for the importance of higher interest rates on the Commercial P&C returns and our acknowledgement that AIG has made much more progress in 2016 than we would have expected. We not only think that it's more likely that AIG can earn a 9% ROE in 2018, but that AIG can sustain that level of return without a great deal of additional restructuring. As a result, in a base case scenario, we think it's now much easier than it has been to argue for a premium valuation to book value."

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 $65.60 yesterday.

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