Ameriprise price target raised to $594 from $575 at BofA

BofA analyst Craig Siegenthaler raised the firm’s price target on Ameriprise (AMP) to $594 from $575 and keeps a Buy rating on the shares. The company delivered a “strong” adjusted earnings per share beat, supported by higher management fees and other revenue streams and a one-time $25M benefit related to Comerica, the analyst tells investors in a research note. The firm expects net new assets to remain low over the next two quarters as remaining Comerica advisors/assets transition off the platform.