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Banking, finance, and taxes

Analyst Drives AIG With Buy (AIG)

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By Jon C. Ogg Updated Published

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American International Group, Inc. (NYSE: AIG) does not have many analysts that cover it any longer.  After the meltdown and massive government stake, what else would you expect?  There is actually a positive call from UBS this morning with a short term buy rating.

UBS’s focus is on the upside for holders holding the stock when the United States converts the preferred shares held to common shares as it plans to exit its ownership stake in AIG.  Whether that closes is one thing, but the exit is currently planned to end before the end of Q1-2011 per our most recent data.

As a part of the analyst call this morning, UBS also raised AIG’s price target up to $45.00.  The prior target had been $40.00, but the issue at hand to consider is that Shares closed Friday at $41.47.  Part of the call led to lower earnings per share expectations for 2010 to 2012 due to the increased dilution coming.

Is $3.53 in upside enough reward for the implied risks that exist in AIG?  Maybe for some, probably not for many.  AIG’s shares were up 1% at $41.88 on thin volume before the open.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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