UPDATE: Bank of America Merrill Lynch Maintains Buy Rating, Raises PT for American International Group

UPDATE: Bank of America Merrill Lynch Maintains Buy Rating, Raises PT for American International Group

In a report published earlier today, Bank of America Merrill Lynch maintained its Buy rating for American International Group, Inc. (NYSE: AIG) and raised its price target from $ 40.00 to $ 44.00.

BofA Merrill Lynch said in its report “We see AIG as a classic value idea given a sizeable discounted valuation relative to peers, low expectations and sentiment on the shares that we would describe as quite cautious. In other words, the bar has been set low and a lack of any material bad news may be enough to allow for healthy stock price appreciation. We believe that a focused management team, greatly improved risk management, a global P/C platform and a diversified earnings stream provide the fuel for potential gains.”

American International Group, Inc. closed yesterday at $ 34.14.

(c) 2012 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.

ForexNews.com