Morgan Stanley analyst Michael Cyprys assumed coverage of Ameriprise with an Equal Weight rating and price target of $383, up from $365. The analyst is bullish on growth in wealth management and sees Ameriprise’s “transformation story as an attractive play” in a $30 trillion U.S. advice industry. However, slower organic growth versus peers and lingering insurance risks drive the Equal Weight rating, the analyst tells investors in a research note.
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