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Ameriprise price target raised to $392 from $340 at Argus
The Fly

Ameriprise price target raised to $392 from $340 at Argus

Argus analyst Kevin Heal raised the firm’s price target on Ameriprise to $392 from $340 and keeps a Buy rating on the shares after its Q4 earnings beat. The company has generated solid revenue in recent quarters, driven by net inflows, the addition of experienced advisers, and growth at the Ameriprise Bank, the analyst tells investors in a research note. Long-term growth at Ameriprise is expected to be driven by growth in the number of financial advisers, an increase in fee-based accounts, higher revenues from asset manager Columbia Threadneedle, and the acquisition of Bank of Montreal’s EMEA asset management unit, Argus adds.

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