Market Overview

UPDATE: Credit Suisse Downgrades Ameriprise Financial to Neutral on Valuation

Related AMP
Earnings Scheduled For October 28, 2014
Top 4 Stocks In The Asset Management Industry With The Highest Revenue
Making Money with Charles Payne: 8/27/14 (Fox Business)

Credit Suisse downgraded its rating on Ameriprise Financial (NYSE: AMP) from Outperform to Neutral and raised the price target from $65.00 to $67.00.

Credit Suisse commented, "Although AMP remains the best capital return story in our coverage universe with anticipated 2013 total capital deployment well above free cash flow and GAAP operating earnings, we think the company's ability to return capital in 2013 is now fully reflected in the stock following the recent move in shares (+5% YTD and +16% since mid-November). Specifically, we see some fundamental weakness in Columbia as reflected in SimFunds flow data. 4Q12 appears to have been another relatively weak flow quarter at AMP, with an estimated $1.7b in outflows in November and $1b in October, with no apparent one timers in those numbers (although we expect some of the outflows stem from the retirement of the V&R fund PM)."

Ameriprise Financial closed at $65.25 on Monday.

Latest Ratings for AMP

DateFirmActionFromTo
Oct 2014Sterne AgeeMaintainsNeutral
Aug 2014Morgan StanleyDowngradesOverweightEqual-weight
Jul 2014CitigroupMaintainsNeutral

View More Analyst Ratings for AMP
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (AMP)

Around the Web, We're Loving...

Get Benzinga's Newsletters