KBW Raises Estimates for Ameriprise Financial (AMP)

Analysts at KBW have raised estimates following 2Q results from Ameriprise Financial AMP. Jeffrey Schuman, Ryan Krueger, and Nick Seccareccia said, "We are materially raising estimates following AMP's 2Q results and the recent equity market bounce. Margins in the company's advisory and asset management businesses expanded at a much higher rate than we expected in 2Q and we are resetting our projections as a result. Our 2010/2011 estimates increase to $4.10/$5.00 from $3.30/$4.35." KBW gives Ameriprise a Market Perform rating and a $50 price target. Shares of AMP are currently trading at $43.61.