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Downgrade Alert for Ameriprise Financial (AMP)

By David Diaz

Ameriprise Financial (NYSE:AMP) was downgraded from Outperform to Sector Perform at RBC Capital today. The stock closed yesterday at $96.30 on volume of 1.2 million shares, below average daily volume of 1.3 million.

Over the past year, Ameriprise Financial has traded in a range of $76.00 to $130.69 and closed yesterday at $96.30, 27% above that low. The 200-day and 50-day moving averages have moved 0.62% lower and 1.02% higher over the past week, respectively.

Potential upside of 38.7% exists for Ameriprise Financial, based on a current level of $96.30 and analysts' average consensus price target of $133.56. The stock should hit resistance at its 200-day moving average (MA) of $104.07, as well as support at its 50-day MA of $93.38.

Ameriprise Financial, Inc. is a financial planning and services firm. The Company provides financial planning, products and services that are designed to be utilized as solutions for its clients' cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs.

SmarTrend is tracking the current trend status for Ameriprise Financial and will alert subscribers who have AMP in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades ameriprise financial

Ticker(s): AMP