Ameriprise price target raised to $489 from $464 at Morgan Stanley

Morgan Stanley analyst Michael Cyprys raised the firm's price target on Ameriprise to $489 from $464 and keeps an Underweight rating on the shares. Brokers & Exchanges are expected to deliver slightly better-than-consensus Q2 earnings driven by stronger volumes and volatility, with brokers favored for attractive valuations, growth potential, and multiple upcoming catalysts, the analyst tells investors in a research note.