AIG price target lowered to $86 from $87 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on AIG to $86 from $87 and keeps a Buy rating on the shares. The firm views AIG’s Q2 results as a “pivotal milestone” in the company’s “simplification journey.” The process will ultimately benefit shareholders as the strong underlying earnings growth of 38% year-over-year becomes increasingly evident, the analyst tells investors in a research note. Deutsche refined its valuation methodology to better align with the company’s new disclosures, which drove the tick down in the price target.