William Blair analyst Jeff Schmitt has maintained their bullish stance on AMP stock, giving a Buy rating on April 21.
Jeff Schmitt has given his Buy rating due to a combination of factors including Ameriprise Financial’s ability to exceed earnings expectations and maintain expense discipline. The company reported an operating EPS of $9.50, surpassing both the firm’s estimate and the consensus, which highlights its strong financial performance despite a slowdown in top-line growth.
Schmitt also points out that Ameriprise Financial’s effective control over general and administrative expenses, coupled with high capital returns, supports sustainable earnings growth. Even though the top-line growth is expected to decelerate, the company’s strategies such as portfolio repositioning, client cash inflection, and increased share buybacks are anticipated to drive EPS growth in the high single digits, assuming normal market conditions. This disciplined approach to managing expenses and capital is a key reason for the Buy rating.
In another report released on April 21, RBC Capital also maintained a Buy rating on the stock with a $550.00 price target.