AIG price target raised to $90 from $87 at BMO Capital

BMO Capital raised the firm’s price target on AIG to $90 from $87 and keeps an Outperform rating on the shares. The firm is adjusting its model after fully incorporating the benefits from AIG’s deferred tax asset utilization and proceeds from Corebridge sell-downs in its core operating book value roll-forward, the analyst tells investors in a research note. BMO adds however that while it has recently increased catastrophe loss estimates above the consensus, that consensus will likely change soon to incorporate the impact of Hurricane Helene.