Ameriprise price target raised to $450 from $420 at RBC Capital

RBC Capital raised the firm’s price target on Ameriprise to $450 from $420 and keeps an Outperform rating on the shares. The company’s Q4 results were slightly better than expected, and the stock stands to benefit if clients start to re-allocate cash to wrap accounts or other risk asset, the analyst tells investors in a research note. RBC adds that it is favoring the strong fundamentals in the Ameriprise Advice & Wealth Management segment, along with its capital-return story.