Barclays maintains an 'Equalweight' on American International Group (AIG); CEO Clarity on Full Exit of U.S. Treasury

Barclays maintains an 'Equalweight' on American International Group (NYSE: AIG) price target of $31.00.

Analyst, Jay Gelb, said, "Mr. Benmosche said a full exit of the U.S. Treasury as a shareholder in AIG might be possible by the end of 2013. This timeframe might be viewed as disappointing to some investors hoping for a faster exit around the time of the November 2012 Presidential election. The U.S. Treasury currently owns 53% of AIG valued at $28bn, which we anticipate will likely be reduced again in 3Q as AIG continues to monetize non-core assets including its remaining stakes in Maiden Lane III and AIA."

Gelb also mentioned that AIG's CEO health doesn't seem to be an issue and he's currently cancer free. Gelb also thinks the stock trades at a discount to book value and buybacks result in meaningful EPS accretion. However, the stock is trading above P&C and life insurance peers.

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 $32.60 yesterday.

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