UPDATE: Deutsche Bank Initiates Coverage On Ameriprise Financial On Positive Outlook

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In a report published Tuesday, Deutsche Bank analyst Yaron Kinar initiated coverage on
Ameriprise Financial, Inc.AMP
with a Buy rating and $143.00 price target. In the report, Deutsche Bank noted, “Our Buy recommendation is predicated on further re-rating and earnings growth from continued productivity and utilization improvements in wealth advisory, which is currently in-line with peer average. This improvement should continue to support strong capital deployment, with over 100% of earnings deployed through buybacks and dividends. Finally, benchmarked to life insurers, AMP is better positioned to weather a weak 10Y environment and is uniquely positioned to benefit from a Fed rate hike later this year. We initiate with above-Consensus EPS estimates of $9.65 and $11.35 for '15-'16.” Ameriprise Financial closed on Monday at $126.38.
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Posted In: Analyst ColorInitiationAnalyst RatingsDeutsche BankYaron Kinar
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