Ameriprise price target lowered to $484 from $530 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Ameriprise (AMP) to $484 from $530 and keeps an Underweight rating on the shares. The firm is updating its price targets for stocks in the Brokers & Exchanges North America sector under its coverage, the analyst tells investors. The firm believes brokers are poised to benefit from growth due to better visibility around rates paths and continued retail engagement.