AIG price target lowered to $63 from $70 at Evercore ISI

Evercore ISI analyst David Motemaden lowered the firm’s price target on AIG to $63 from $70 and keeps an In Line rating on the shares. The firm has lowered targets across the commercial lines insurers to reflect lower P/Es given the decelerating pricing environment "at a time when we are incrementally more negative on the loss cost environment," the analyst tells investors.