Ameriprise price target raised to $625 from $550 at RBC Capital

TipRanks

Wed, Dec 11, 2024, 5:50 AM 1 min read

RBC Capital analyst Kenneth Lee raised the firm’s price target on Ameriprise (AMP) to $625 from $550 and keeps an Outperform rating on the shares as part of a broader research note previewing 2025 for U.S. Asset Managers. The firm forecasts 2025 S&P500 year-end target of 6,600 while noting that asset managers can benefit from operating leverage, also stating that there is a favorable set up for M&A activity in the space, the analyst tells investors in a research note. Ameriprise management also continues to maintain tight discipline around expenses, and there is some upside opportunity should cash in the Ameriprise ecosystem get re-allocated to wrap or bank products, the firm adds.

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