UPDATE: Deutsche Bank Reiterates On American International Following More Detailed SOTP

In a report published Thursday, Deutsche Bank analyst Joshua Shanker reiterated a Hold rating on American International (NYSE: AIG), and raised the price target from $55.00 to $58.00.

In the report, Deutsche Bank noted, “Our target price increase is due, in part, to rolling forward our year-ahead price target to 2Q15, but we have also revalued the stock in a more detailed sum-of-the- parts manner including sizable AIG's investments in publicly-traded entities. The next catalyst is the announcement of its share repurchase plan. We believe an authorization below $2B would disappoint investors. Our Hold recommendation is predicated on 8% upside to our year-ahead target and a 1% dividend yield. Maintain Hold.”

American International closed on Wednesday at $53.48.