AIG downgraded to Hold from Buy at HSBC (yesterday)

HSBC yesterday morning downgraded AIG to Hold from Buy with a price target of $86, up from $85. The stock’s strong share performance over the past year and a lack of other catalysts are likely to limit further upside, the analyst tells investors in a research note. The firm thinks the “CRBG deconsolidation angle is now well understood by the market.” HSBC struggles to see other catalysts that can drive the stock meaningfully higher in the near-to-medium term.