On Oct 10, major Wall Street analysts update their ratings for $American International Group (AIG.US)$, with price targets ranging from $78 to $89.
J.P. Morgan analyst Jimmy Bhullar upgrades to a buy rating, and adjusts the target price from $93 to $89.
BofA Securities analyst Joshua Shanker maintains with a hold rating, and adjusts the target price from $82 to $86.
Jefferies analyst Yaron Kinar maintains with a buy rating, and adjusts the target price from $82 to $88.
Evercore analyst Thomas Gallagher maintains with a hold rating, and maintains the target price at $78.
Furthermore, according to the comprehensive report, the opinions of $American International Group (AIG.US)$'s main analysts recently are as follows:
Despite Q3 being marked by a significant number of global catastrophe events, expectations are set for the quarter's catastrophe losses to remain manageable for property and casualty insurers. Anticipations include manageable losses for Hurricane Milton in the Q4 models, although there is an acknowledgment of the remaining uncertainty as the storm has only recently made landfall. Adjustments in the group's targets are reflective of the events that transpired during the quarter along with changes in various P/E multiples.
The company is poised for 'outsized' earnings growth, benefits from capital flexibility, and possesses a low valuation. The fundamental perspective on the company's business has become increasingly positive in recent years, mainly due to enhancements in underwriting, reserves, and risk management. With more grounded consensus earnings forecasts and improved relative valuation after a period of underperformance, the company's valuation is seen as particularly attractive, especially when considering its deferred tax asset and projected above-average earnings growth in the upcoming years.
The performance of Property & Casualty insurance stocks was notable in the third quarter due to a milder natural catastrophe season and market positioning, which propelled stocks to new heights. Despite the recent changes in dynamics brought on by Hurricane Helene and Hurricane Milton, there is an anticipation for satisfactory third-quarter results across underwriters.
Q3 outcomes, especially for reinsurers, could be eclipsed by the recent Hurricane Milton. There is a positive perspective on the Personal sector due to improving margins and an increase in policies-in-force. The expectation for Q3 is that catastrophe losses will be under the five-year seasonal norm but substantially higher than those of the third quarter of the previous year, which could pose a risk for primary insurers.
Here are the latest investment ratings and price targets for $American International Group (AIG.US)$ from 4 analysts:
Note:
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