Ameriprise Financial (NYSE:AMP) Undervalued Says UBS (NYSE:UBS)

UBS (NYSE:UBS) maintains their "Buy" rating on Ameriprise Financial (NYSE:AMP), citing their share price being undervalued.

UBS said, "We think AMP shares remain undervalued despite its outperformance (vs. life group), as our sum-of-the-parts (SOP) analysis results in -$61 of current fair value. And, AMP shares have room for materially more appreciation based on our higher 12-month SOP future value of $70."

Ameriprise Financial closed Friday at $54.14, up by $0.43, or 0.80 percent. UBS raised their price target on them from $56 to $66.