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Fly News Breaks for February 16, 2017
AIG
Feb 16, 2017 | 07:27 EDT
Deutsche Bank analyst Joshua Shanker does not expect AIG to deliver on its adjusted goal of a 62% loss ratio. Management has lost a lot of credibility around its claims regarding underlying margins given the Q4 results, Shanker tells investors in a post-earnings research note. He cut his 2017 earnings per share estimate to $4.70 from $5.30 and 2018 estimate to $5.85 from $6.45. The analyst dropped his price target for AIG shares to $61 from $64 and keeps a Hold rating on the name.
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