Ameriprise Financial (AMP) PT Raised to $490 at BMO Capital

BMO Capital analyst Brennan Hawken raised the price target on Ameriprise Financial (NYSE: AMP) to $490.00 (from $470.00) while maintaining a Market Perform rating.

The analyst commented, "AMP reported 1Q26 EPS of $11.26, above our estimate of $10.04 and consensus of $10.21. However, results included a $25mm CMA termination fee (22c tailwind) and lower than expected tax rate (10c tailwind), still netting a 73c core beat, driven by AWM revenues. NNAs were soft, yet again, at $4.2 bn (1.4% ann. growth) vs cons of $9.1bn. They included an undisclosed impact from CMA off-boarding, which we estimate at $3-$4bn and expect those headwinds to ramp."

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