Ameriprise price target raised to $487 from $480 at RBC Capital

RBC Capital raised the firm’s price target on Ameriprise to $487 from $480 and keeps an Outperform rating on the shares ahead of its Q2 results. The firm remains positive on the company’s strong fundamentals within the Advice & Wealth Management Segment as well as its capital return story, the analyst tells investors in a research note. Ameriprise is also benefiting from industry trends toward fee-based advisory accounts, and RBC expects a robust return of capital given its strong capital position and ongoing free cash flow generation potential, the firm added.