UPDATE: Citi Lowers Price Target on Ameriprise Financial to $44

According to Citi, Ameriprise Financial (NYSE: AMP) price target is lowered to $44.

Citi said that it is revised its target price to $44 and trimmed its 2011E-13E to $5.10, $6.05 and $7.90, respectively. “These moves reflect both the pending ASU 2010-26 GAAP change for DAC as well as the risk recent equity market and interest rate declines and volatility will persist.”

Ameriprise Financial closed on Friday at $39.77.