New York, August 7 (FinanceEnquiry.com) – Analyst Cathy Seifert at S&P CAPITAL IQ keeps BUY ratings on the shares of American International Group (NYSE: AIG). The 12-month target price is set to $39.
In a research note published yesterday, the analyst mentions that the target price is based on 10.5x of 2013 estimate of $3.70, which has been less than that of the competitors. The shares have been responding favorably to the news that the US Treasury completed the sale of $5.75 billion of AIG shares, including over allotments and reducing the stake to around 53 percent.
AIG has agreed to repurchase $3 billion of the shares offered to it. This action has been viewed as positive as the government continues to wind down its ownership stake. The shares have been viewed as undervalued against the competitors and historical levels, though it has been noticed the price/book value multiples might remain discounted to peers till the time AIG raises its return on equity, the analyst says.
New York, May 21 (FinanceEnquiry.com) – Corn slipped for another day as soon as US planters stepped up planting on warmer climate, improving cheerfulness that output in the largest producer will arrive at a...Crude Oil Futures Fall in Asia; Market Looks Forward to Bernanke’s Evidence - May 20, 2013
New York, May 20 (FinanceEnquiry.com) – Since investors remained on the sidelines prior to the viewpoint of US Federal Reserve chairman on the economy afterward in the week, due to this, crude oil futures...Wall Street Futures on Upturn - May 17, 2013
Detailing it, by 0.21 percent, the Dow Jones industrial...Confidence amid House Builders Improves in May - May 16, 2013
New York, May 15 (FinanceEnquiry.com) – On apprehensions on the subject of increasing supplies from the United States and an austere stance for worldwide demand expansion, Brent futures fell towards $102 per barrel...European Stocks Likely to Start Higher; the Dollar Becomes Feeble - May 14, 2013
New York, May 14 (FinanceEnquiry.com) – On May 14, European stocks are probable to start higher, at the side of feebler government bonds, as soon as US retail sales statistics came above anticipations...Gold and Oil Costs Slip since Dollar Fortifies; Japanese Equities Surpass - May 13, 2013
New York, May 13 (FinanceEnquiry.com) – Pulling Asian shares lower, oil and gold costs slipped on the very first day of this week seeing that the dollar fortified, even though on the back of the yen's fall to...Yen Sags to 4-Yr Low in Opposition to Dollar - May 10, 2013
New York, May 10 (FinanceEnquiry.com) – As soon as statistics demonstrated Japanese investors had started purchasing foreign bonds, the yen dropped to a four-year low in opposition to the dollar and a three-year...