Drexel Hamilton Starts American International Group (AIG) at Buy; Speculative, But A Turnaround Play Nonetheless

Drexel Hamilton initiates coverage on American International Group (NYSE: AIG) with a Buy. PT $32.00.

Analyst, Gloria L. Vogel, said, "While a more speculative stock than others in its sector, AIG has been in a trading range for months, with its stock price significantly below its stated book value. If the company can deliver better and more consistent earnings results with less non-insurance “noise” going forward, we believe the stock can break out of its trading range to the upside."

"We have after tax operating EPS estimates of $0.79, $2.24, and $2.96 for years 2011, 2012, and 2013, 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 $26.49 yesterday.

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