AIG price target lowered to $78 from $81 at Evercore ISI

Evercore ISI analyst Thomas Gallagher lowered the firm’s price target on AIG to $78 from $81 and keeps an In Line rating on the shares. On Wednesday, AIG disclosed an update of how it will treat Corebridge upon deconsolidation and Evercore updated its estimates to fully treat Corebridge as discontinued operations and now has a clearer view of the new AIG, the analyst tells investors in a research note. The updated disclosure was a little worse than expected due to what appears like a higher consolidated tax rate and less net interest income in Other Operations, the firm says.