Insurance Technology Industry News

TMCNet:  Downgrade Alert for American International (AIG)

[January 10, 2013]

Downgrade Alert for American International (AIG)

Jan 10, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- American International (NYSE:AIG) was downgraded from Outperform to Market Perform at Wells Fargo today. The stock closed yesterday at $35.76 on volume of 14.7 million shares, below average daily volume of 29.6 million. American International Group, Inc. is a holding company which, through its subsidiaries provides a varied range of insurance and insurance-related activities in the United States and abroad. The Company's main activities include both general insurance and life insurance & retirement services operations as well as financial services and asset management.

Over the past year, American International has traded in a range of $23.50 to $37.67 and closed yesterday at $35.76, 52% above that low. The 200-day and 50-day moving averages have moved 0.35% higher and 0.12% higher over the past week, respectively.

American International (NYSE:AIG) has potential upside of 9.9% based on a current price of $35.76 and analysts' consensus price target of $39.30. The stock should find initial support at its 50-day moving average (MA) of $33.85 and further support at its 200-day MA of $32.72.

SmarTrend recommended that subscribers consider buying shares of American International on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.08. Since that recommendation, shares of American International have risen 8.1%. We continue to monitor AIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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