Wells Fargo Keeps a Buy Rating on American International Group (AIG)

By Jason Carr

In a report released yesterday, Elyse Greenspan from Wells Fargo maintained a Buy rating on American International Group (AIGResearch Report), with a price target of $66.00. The company’s shares closed last Monday at $48.60.

According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 6.4% and a 67.0% success rate. Greenspan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, United Insurance Holdings, and Arthur J Gallagher & Co.

Currently, the analyst consensus on American International Group is a Moderate Buy with an average price target of $60.50, a 22.1% upside from current levels. In a report issued on February 14, RBC Capital also maintained a Buy rating on the stock with a $65.00 price target.

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Based on American International Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $12.37 billion and net profit of $929 million. In comparison, last year the company earned revenue of $12.25 billion and had a GAAP net loss of $622 million.

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American International Group, Inc. engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement, Other Operations, and Legacy Portfolio.