Citi sees AIG pursuing acquisitions despite merger rumors

AIG shares drew attention after Citi said the insurer is more likely to acquire firms than be acquired, arguing integration and revenue dyssynergies outweigh cost benefits in a large merger. Citi kept a Neutral rating with an $85 target. Piper Sandler raised its target to $95 and maintained an Overweight rating, while both AIG and Chubb denied takeover reports.