BofA Securities analyst Joshua Shanker maintains $American International Group (AIG.US)$ with a hold rating, and adjusts the target price from $82 to $86.
According to TipRanks data, the analyst has a success rate of 64.4% and a total average return of 11.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $American International Group (AIG.US)$'s main analysts recently are as follows:
The recent quarter has been eventful with numerous global catastrophes, yet it is anticipated that the losses from these events will be manageable for property and casualty insurers. With Hurricane Milton's recent landfall, preliminary estimates have been incorporated into the fourth-quarter models, although the extent of the impact is still uncertain. The changes in the insurance group's targets are reflective of the events of the quarter and adjustments in P/E multiples.
AIG is recognized for providing considerable earnings growth, capital adaptability, and attractive valuations. The company's business fundamentals are viewed more positively, largely due to enhancements in underwriting, reserves, and risk management practices. It is observed that consensus earnings projections have become more attainable, and the stock's valuation has become more appealing after a period of underperformance. AIG's valuation is considered particularly attractive, taking into account its deferred tax asset and the anticipated higher-than-average earnings growth in the coming years.
Property & Casualty insurance stocks performed well in Q3 due to a milder natural catastrophe season and market positioning, leading to new highs. Although the recent hurricanes have shifted the landscape, it is anticipated that underwriters will still report satisfactory results for the third quarter.
Note:
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