Ameriprise price target raised to $437 from $400 at Morgan Stanley

Morgan Stanley analyst Michael Cyprys raised the firm’s price target on Ameriprise to $437 from $400 and keeps an Equal Weight rating on the shares. In a preview for the Brokers and Exchanges group, the firm notes that its Q1 EPS estimates are revised 1% lower across brokers, 4% higher across market infrastructure names and 1% higher across exchanges on average. Across the group, the firm’s price targets are 13% higher on average for 9% upside, driven by a 12% lift in target 2024 multiples and 2% higher 2025 EPS estimates on average.