Ameriprise Financial (AMP) PT Raised to $200 at RBC Capital in a Quarter with Several Moving Parts

RBC Capital analyst Kenneth Lee raised the price target on Ameriprise Financial (NYSE: AMP) to $200.00 (from $187.00) after the company reported 3Q20 adjusted operating EPS of $1.47, above consensus of $1.23. Operating EPS was negatively impacted by previously announced DAC unlocking and loss recognition charge of $2.80 per diluted share, related to the company’s annual actuarial review. On a normalized basis, 3Q operating EPS was ~$4.27.

The analyst maintained an Outperform rating, stating "Fundamentals within A&WM biz remain strong, and while low rates are still a headwind, the impact may be in a steady state at this point. We continue to favor AMP's growth opportunities and capital return story."

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