Goldman Sachs Upgrades Ameriprise to “Buy” (AMP)

Filed in dividend, earnings, Gold, Gold Investing, goldman sachs, o, shares, target, upgrade by on February 11, 2011 0 Comments

Investment advisor Ameriprise Financial, Inc. ( AMP ) on Friday caught a big upgrade from analysts at Goldman Sachs. The firm said it boosted its rating on AMP from “Neutral” to “Buy” with a $73 price target. That target suggests an 18% upside to the stock’s Thursday closing price of $61.89. Goldman also boosted its earnings estimates for the company through 2013, noting it believes the financial services provider stands to benefit from rising retail investor demand. AMP has had $21 billion in net equity inflows year-to-date. Ameriprise shares rose 61 cents, or +1%, in premarket trading Friday. The Bottom Line Shares of Ameriprise ( AMP ) have a 1.16% dividend yield, based on last night’s closing stock price of $61.89. The stock has technical support in the $55 price area. If the shares can firm up, we see overhead resistance around the $63-$66 price levels. Ameriprise Financial, Inc. ( AMP ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Goldman Sachs Upgrades Ameriprise to “Buy” (AMP)

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