BofA analyst Craig Siegenthaler lowered the firm’s price target on Ameriprise (AMP) to $581 from $611 and keeps a Buy rating on the shares after the company reported adjusted EPS that missed the firm’s estimate, driven primarily by revenues/profits in both the wealth manager and asset manager segments. The firm lowered its 2025, 2026 and 2027 EPS estimates due to a lower organic growth forecast, but adds that management sounded more bullish on the call with regards to its recruitment pipeline, which could translate into better net new assets.
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