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Fly News Breaks for March 5, 2020
AMP
Mar 5, 2020 | 06:59 EDT
Citi analyst Suneet Kamath lowered the firm's price target on Ameriprise to $176 from $200 but reiterates a Buy rating on the shares. Considering the Fed's 50 basis point rate cut and other factors like the recent equity market decline, the analyst reduced Ameriprise's 2020 earnings per share estimate from $18.50 to $17.65 and 2021 estimate from $20.70 to $19.75. However, expense cuts and incremental buybacks will offset some of the earnings and margin pressure, Kamath tells investors in a research note.
News For AMP From the Last 2 Days
AMP
Apr 24, 2024 | 09:40 EDT
RBC Capital raised the firm's price target on Ameriprise to $480 from $470 and keeps an Outperform rating on the shares after its Q1 earnings beat. The firm continue to sees potential benefit for Ameriprise if clients start to re-allocate cash to wrap accounts or other risk assets, also noting that it is favoring the strong fundamentals in the Advice & Wealth Management Segment business and the stock's capital-return story, the analyst tells investors in a research note.
