Goldman Upgrades AIG To Buy On Second Half Of 2018 Catalyst

 

Goldman Sachs analyst Yaron Kinar upgraded AIG to Buy from Neutral with an unchanged price target of $64. The shares closed yesterday down 26c to $52.82.

AIG reaching break-even underwriting in its “much-criticized” General Insurance business will serve as a catalyst for shares in the second half of 2018, Kinar tells investors in a research note.

The analyst previously anticipated “tangible improvement” in 2019, but now believes that diminished Property & Casualty pricing headwinds and increased use of reinsurance will accelerate the improvement in the second half of 2018.