Ameriprise Financial (AMP) 10/14/09 PriceWatch Alert Targets 28.06% Return
Posted: Wednesday, October 14, 2009 8:35 AM EDT
By: Market Intelligence Center Staff
Ameriprise Financial (NYSE: AMP) closed yesterday at $35.83. So far the stock has hit a 52-week low of $11.74 and 52-week high of $37.80. Ameriprise Financial stock has been showing support around 35.17 and resistance in the 36.59 range. Technical indicators for the stock are Bullish and S&P gives AMP a weak 2 STAR (out of 5) sell rating. AMP appears on the Investors Observer Stocks In The News list. Credit Suisse downgraded AMP Tuesday to Neutral from Outperform. For a hedged play on this stock, look at a Mar '10 35 covered call (AMP CG) for a net debit in the $31.23 area. That is also the break even stock price for this trade. This covered call has a 157 day duration, provides 12.84% downside protection and a 12.07% assigned return rate for a 28.06% annualized return rate (comparison purposes only). Ameriprise Financial has a current annual dividend yield of 1.85%. [WBA-Seven Summits Research]
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