Ameriprise price target raised to $480 from $470 at RBC Capital

RBC Capital raised the firm’s price target on Ameriprise to $480 from $470 and keeps an Outperform rating on the shares after its Q1 earnings beat. The firm continue to sees potential benefit for Ameriprise if clients start to re-allocate cash to wrap accounts or other risk assets, also noting that it is favoring the strong fundamentals in the Advice & Wealth Management Segment business and the stock’s capital-return story, the analyst tells investors in a research note.