Ameriprise price target raised to $565 from $562 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Ameriprise (AMP) to $565 from $562 and keeps a Neutral rating on the shares. As with other brokers that reported Q4 EPS, the firm is “encouraged” by strong sequential core client cash growth of 8% and stability into January that suggest cash balance growth will resume in coming quarters – setting the brokers up nicely for a higher-for-longer rates backdrop, the analyst tells investors in a research note. Goldman adds it is encouraged by signs of client re-engagement activity with accelerating Wrap flows in Q4, which will build further moving through 2025.