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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
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Ratings upgrade boosts Ameriprise shares

Posted by RJ and Makay on Feb 14, 2011
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Ratings Upgrade Boosts Ameriprise SharesCommon shares of Ameriprise Financial spiked by 3.2% on Friday in response to a ratings upgrade by Goldman Sachs from neutral to buy. The main reason for the upgrade was an improved return on equity (ROE). Ameriprise's ROE has risen sharply from recession lows over the past couple of years.

With its upgrade, Goldman set a price target of $73 per share. Ameriprise is currently trading at about $64 a share and has added nearly another percentage point to Friday's gain.