Ameriprise price target raised to $470 from $460 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Ameriprise to $470 from $460 and keeps a Market Perform rating on the shares ahead of the Q2 report. The analyst says the environment remains “generally constructive” for life insurers. The Q2 equity markets varied, but there were further tailwinds from Q1’s strength, the analyst tells investors in a research note. The firm points to less underwriting seasonality in 2Q and U.S. population excess mortality moderating in the quarter. Keefe also expects disability results to remain favorable.