Goldman Sachs Initiates Coverage of AIG with Neutral and PT of $31

Goldman Sachs initiated its coverage of AIG (NYSE: AIG) with Neutral. At the same time, Goldman placed the price target on the company's stock at $31. In a research report published today, Goldman stressed that near-term risks will offset any opportunities for the company's share price to rise.

In the report, Wunderlich states, "We initiate coverage of American International Group, Inc. (AIG) at Neutral with a $31, 12-month price target. We think the stock could be range-bound as risks offset opportunities in the near term."

On Tuesday, AIG added 0.7% to its value to close the day at $27.42. Its shares lost all of yesterday's gains in today's pre-market trading, however, falling 0.98% to $27.15.