Waves of Selling Hits AIG
Tweet
Share
E-mailGet Alerts AIG Hot Sheet
Join SI Premium – FREE
Selling pressure in American International Group, Inc. (NYSE: AIG) has significantly accelerated. Shares are now down nearly 11.5% following this morning negative report from analysts at Sanford Bernstein.
The firm cut their price target on AIG to $12 from $20 after a loss reserve analysis. The firm said their segmented industry loss reserve analysis revealed a very unexpected result that could have major ramifications in coming year. They said it appears that AIG's loss reserves are significantly deficient again, much sooner that they would have forecast 2 years ago.
The firm continues to rate AIG underperform.
More on Sanford Bernstein's research report on AIG.
The firm cut their price target on AIG to $12 from $20 after a loss reserve analysis. The firm said their segmented industry loss reserve analysis revealed a very unexpected result that could have major ramifications in coming year. They said it appears that AIG's loss reserves are significantly deficient again, much sooner that they would have forecast 2 years ago.
The firm continues to rate AIG underperform.
More on Sanford Bernstein's research report on AIG.
You May Also Be Interested In
- American International Group (AIG) PT Raised to $81 at Barclays
- Earnings preview: Bernstein sees ‘clear potential for further upside’ in this stock
- AIG Delivers Strong Second Quarter Results and Exceptional First Half of the Year
Create E-mail Alert Related Categories
Insiders' Blog, Trader TalkRelated Entities
Sanford C. BernsteinSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
