Ameriprise price target raised to $502 from $440 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Ameriprise to $502 from $440 and keeps an Equal Weight rating on the shares. In a preview for the Brokers & Exchanges group, the analyst says it expects a focus on cash sweep balances for the brokers and volumes along with non-transactional revenues to be the focus for the exchanges. Among market infrastructure names, the firm sees a focus on scope for industry trends to support fixed income electronification as well as market share dynamics.