Citigroup Inc. lifted its price target for Ameriprise Financial, Inc. (NYSE:AMP) from $56.00 to $60.00 on Monday, while maintaining a Hold rating. The firm's 2011 EPS estimate was also hiked from $5.35 to $5.60. Company shares are trading 0.90% lower at $59.72.
The financial planning and services firm had sales growth of 0.2% during the last fiscal year; the company has reported $9.7 billion in sales over the past 12 months and is expected to report $11.3 billion in sales in the next fiscal year.
The firm was previously downgraded to Hold from Buy at Citigroup on November 29, 2010. Additionally, the company has a potential upside of 2.6% based on a current price of $59.34, and an average consensus analyst price target of $60.91.