AIG (AIG) Started at Overweight by Evercore; Expecting 'Solid' Growth in Profits

Shares of AIG (NYSE: AIG) are now under pressure Tuesday morning despite an earlier bullish note from an analyst at Evercore Partners.

Evercore initiated coverage on AIG with an Overweight rating and $38 price target. The firm sees reduced overhangs amid improving margins at the company's Chartis unit and sustained earnings at the SunAmerica segment. Evercore also pointed to asset dispositions which will fund buybacks.

The firm feels AIG will be able to maintain "solid" earnings growth and improved return on equity.

With AIG shares down 0.4 percent to $30.55, Evercore's new price target implies potential upside of about 24 percent.

Track all the market-moving analyst action on shares of AIG with our Analyst Ratings page.

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