Top Stock to Buy #2 – AIG (AIG)
Major international insurance company AIG (NYSE:AIG) has paid back $182.3 billion in government aid that was provided to bail out its mortgage obligations and credit default problems in 2008-2009. Analysts now view AIG’s financial position as “stable.”
Earnings have climbed from deep losses in 2008 and 2009 to an estimated $3.34 per share in fiscal year (FY) 2013, ended in December, and the consensus average estimate is for earnings of $3.87 in FY 2013.
Following a correction after a new high at over $37 in October 2012, the stock established a bull channel and broke that high early in February. Our buy under price for traders is $38, and with accumulation building and MACD turning up, the stock could make a quick run to $45. Investors seeking long-term gains may be rewarded by purchasing the stock at the current price.