UPDATE: Goldman Sachs Upgrades Ameriprise Financial (AMP) to Buy

(updating comment)

Goldman Sachs analyst Alexander Blostein upgraded Ameriprise Financial (NYSE: AMP) from Neutral to Buy with a price target of $185.00 (from $125.00).

The analyst comments "We believe the stock’s current 8.5X 2021 P/E fails to reflect improving organic growth trends at both Advice & Wealth Management and Asset Mgmt (collectively ~75% of AMP’s earnings) as well as AMP’s increasingly differentiated capital return outlook relative to other Large Cap Financials."

For an analyst ratings summary and ratings history on Ameriprise Financial click here. For more ratings news on Ameriprise Financial click here.

Shares of Ameriprise Financial closed at $142.96 yesterday.

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