Financial services provider Ameriprise Financial, Inc. (
) 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
The Bottom Line
Shares of Ameriprise Financial (
) 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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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