Evercore ISI analyst Thomas Gallagher lowered the firm’s price target on AIG to $78 from $81 and keeps an In Line rating on the shares. On Wednesday, AIG disclosed an update of how it will treat Corebridge upon deconsolidation and Evercore updated its estimates to fully treat Corebridge as discontinued operations and now has a clearer view of the new AIG, the analyst tells investors in a research note. The updated disclosure was a little worse than expected due to what appears like a higher consolidated tax rate and less net interest income in Other Operations, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AIG:
- AIG to sell global individual personal travel insurance unit to Zurich for $600M
- AIG Completes Corebridge IPO and Adjusts Financial Reporting
- AIG call volume above normal and directionally bullish
- AIG price target raised to $84 from $82 at BofA
- AIG Amends Corebridge Agreement, Enhances Board Independence