UPDATE: Ameriprise Financial (AMP) PT Lowered to $330 at Morgan Stanley

Morgan Stanley analyst Nigel Dally lowered the price target on Ameriprise Financial (NYSE: AMP) to $330.00 (from $335.00) after the company reported 1Q22 operating EPS of $5.98, ahead of the consensus of $5.86 after Advice and Wealth was impacted by market volatility while other divisions generally fared better.

The analyst reiterated an Equalweight rating, stating "Our price target declines by $5 to $330 to reflect lower peer multiples in our sum of the parts valuation approach."

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