Another stock that could be
active on Tuesday is American
International Group(AIG) after CEO
Robert Benmosche said in an appearance on CNBC that he expects taxpayers to realize a
profit of $5 billion to $10 billion on their bailout investment in the insurance
giant.
The shares jumped nearly 3%
on Monday to close at $29.06 amid the broad market rally, and it's gained
roughly 22% year-to-date. Deutsche Bank lifted its price target on AIG
to $40 from $35 on Monday, saying it expects the company to ramp up
repurchase activity.
"We believe that AIG is
likely to buy back far more of its own shares than the market price would
indicate and we believe those share buybacks happen at a pace that is far
faster than currently anticipated," said the firm, which has a buy rating on the stock.
"We believe $15-20 billion (or even more) worth of buybacks over the next
twelve months is achievable as the Treasury and AIG sell off the remaining
non-core assets. We believe BVPS book
value per share growth in excess
of 30% is possible if shares continue to hover around their current
price."
Thats y there should be strong flow in 1299.hk today.
Thanks
Paul
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