Citi Reiterates Buy Rating on American International Group (AIG)

Citi analyst Michael Ward reiterated a Buy rating and $89.00 price target on American International Group (NYSE: AIG).

The analyst commented, "We revise our AIG model for full deconsolidation of Life & Retirement (CRBG) from adjusted earnings in 1Q24 and 2Q24. Our 2024 EPS estimates move lower, to $5.90 (from $6.93). This is primarily due to restating 1Q to reflect deconsolidation of CRBG (1Q EPS moves to $1.26 from $1.77), and removing CRBG earnings from 2Q (2Q EPS moves to $1.43 from $1.95). Our previous model reflected deconsolidation beginning in 3Q. Our 2025/26 estimates move lower by ~-1%/-2%, to $7.46/$8.95 primarily on modestly worse international commercial underlying margins and a higher tax rate, partially offset by removing earnings allocated to non-controlling interests. Our target price remains $89."

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 $73.88 yesterday.

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