Ameriprise price target raised to $500 from $487 at Jefferies

Jefferies raised the firm’s price target on Ameriprise to $500 from $487 and keeps a Buy rating on the shares. The firm feels the U.S. life insurance industry “is at an inflection point,” where annuity segments have the potential to enjoy some of the strongest growth and returns in decades. Assuming long-term interest rates remain broadly in line with current levels, the “return of retail” will be a multi-year investable theme, the analyst tells investors in a research note. Jefferies says annuities is the area within U.S. life “with the greatest disconnect between growth potential and valuation.”