Ameriprise Financial (AMP) NewsBite - AMP Downgraded By Credit Suisse
Posted: Tuesday, October 13, 2009 12:53 PM EDT
By: Market Intelligence Center Staff
Ameriprise Financial (AMP) was downgraded today by analysts at Credit Suisse and the stock is now at $36.10, down $0.81 (-2.19%) on volume of 1,237,514 shares traded. Credit Suisse downgraded the stock today to Neutral From Outperform stating that it does not see any upside for the stock over the next 12 months. Over the last 52 weeks the stock has ranged from a low of $11.74 in November to a high of $37.80 earlier this month. Ameriprise Financial stock has been showing support around $36.30 and resistance in the $37.78 range. Technical indicators for the stock are bearish and S&P gives AMP a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on AMP the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Ameriprise Financial (AMP) Stock ReportSee what our analysts have uncovered about Ameriprise Financial (AMP).