Craig Siegenthaler, an analyst from Bank of America Securities, reiterated the Buy rating on Ameriprise Financial. The associated price target is $581.00.
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Craig Siegenthaler has given his Buy rating due to a combination of factors influencing Ameriprise Financial’s performance. Despite a recent miss in EPS estimates, the company showed resilience by outperforming consensus expectations. This was largely due to challenges in organic growth within both the wealth and asset management sectors, which were impacted by tax seasonality and a challenging macroeconomic environment.
However, the company’s management remains optimistic about future prospects, particularly in terms of advisor recruitment, which is expected to enhance net new assets. Additionally, Ameriprise Financial has demonstrated strong liquidity, allowing for substantial share repurchases, which supports shareholder value. The decision to refrain from large acquisitions also reflects a strategic focus on organic growth and risk management, contributing to the overall positive outlook and the Buy rating.
In another report released on July 26, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $586.00 price target.