Mon, Dec 22, 2014, 9:41 PM EST - U.S. Markets closed


% | $
Quotes you view appear here for quick access.

American International Group, Inc. Message Board

  • breakspeed9000 breakspeed9000 Aug 21, 2008 1:31 PM Flag

    CITI-target on AIG $40.50

    CHARLOTTE, N.C. (AP) -- Shares of American International Group Inc. hit their lowest point in nearly 13 years on Thursday as financial shares were once again broadly lower.

    AIG shares lost $1.15, or 5.5 percent, to $19.65 in midday trading. At one point the stock touched $19.50, its lowest since roughly Oct. 1995.

    New York-based AIG has been hit hard by deterioration in the credit markets amid concerns about the health of complex instruments in its investment portfolio.

    In a research note Thursday, Citi Investment Research analyst Joshua Shanker said investors have become "preoccupied" with the possibility of a third-quarter capital raise from the company due to additional deterioration in mortgage-related securities.

    "We note that potential charges are likely outside of AIG management's realm of control," Shanker wrote.

    He maintains a "Buy" rating on the company, with a target price of $40.50.

    Earlier this month, AIG reported a worse-than-forecast $5.36 billion quarterly loss on more mortgage-related write downs.

    It was the insurer's third consecutive multibillion-dollar quarterly loss, underscoring the continuing problems for AIG and others that hold securities tied to the withering housing market.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
56.13+0.35(+0.63%)Dec 22 4:06 PMEST

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Gilead Sciences Inc.
NASDAQMon, Dec 22, 2014 4:00 PM EST
Ocwen Financial Corp.
NYSEMon, Dec 22, 2014 4:00 PM EST