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Fly News Breaks for October 17, 2018
AIG
Oct 17, 2018 | 07:49 EDT
Morgan Stanley analyst Kai Pan attributes recent weakness in AIG shares to Hurricane Michael and the broader market selloff, exacerbated by concerns on rising bond yields, decelerating P&C pricing, rising loss trends, lingering reserve issues,and year-end tax loss selling. Given underperformance versus peers, he sees the bar being set low for AIG into its Q3 earnings report and believes any emerging trend of P&C underwriting improvement should be well received. Pan maintains an Overweight rating and $65 price target on AIG.
News For AIG From the Last 2 Days
