Cantor Fitzgerald analyst Ryan Tunis lowered the firm’s price target on AIG (AIG) to $77 from $80 and keeps a Neutral rating on the shares. The initial positive stance on insurance brokers appears premature and overly optimistic, as near-term fundamentals are likely to deteriorate before improving. While the subgroup remains interesting, negative consensus organic growth revisions are expected in the interim.
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Read More on AIG:
- AIG price target raised to $85 from $83 at Wells Fargo
- AIG price target lowered to $81 from $88 at Barclays
- AIG price target raised to $83 from $81 at Goldman Sachs
- AIG price target lowered to $85 from $90 at Evercore ISI
- Balanced Risk/Reward Amid Leadership Transition and Soft Market Keeps AIG at Hold