UBS Stays Bullish on Ameriprise Financial; Target Boosted Despite Challenging Environment (AMP)

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Financial services provider Ameriprise Financial, Inc. ( AMP ) on Monday received some continued positive commentary from analysts at UBS.

The firm reiterated its "Buy" rating on AMP and lifted its price target from $60 to $69. That new target implies a potential 20% upside to the stock's Friday closing price of $57.60.

A UBS analyst commented, "Outlook on asset management remains mixed. Retail flows are likely to remain challenged by the environment and asset allocation bias favoring fixed income over equities. Return to positive U.S. retails flows is critical."

Continuing, "Our investment thesis of upside potential from an improving macro environment with downside protection from aggressive capital management remains intact."

Ameriprise shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Ameriprise Financial ( AMP ) have a 2.43% dividend yield, based on Friday's closing stock price of $57.60. The stock has technical support in the $51-$52 price area. If the shares can firm up, we see overhead resistance around the $60-$62 price levels.

Ameriprise Financial, Inc. ( AMP ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: AMP

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