The AMP Ltd (ASX: AMP) share price ended the day flat on Tuesday. It fluctuated slightly between $1.20 and $1.22 throughout the course of the day. Then, at the close of the ASX on Tuesday afternoon, the stock was unchanged at $1.20 a piece.
At the time of writing, the financial services company's shares are down a huge 34.43% for the year-to-date. AMP shares are now down 7.69% over the past year.
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What caused the AMP share price crash?
The majority of the decline came when the stock crashed over 26% after it released its FY25 results in mid-February. It was the largest one-day fall the wealth manager has suffered since 2003, when its value tanked 36%.
AMP reported a 20.8% lift in underlying net profit after tax (NPAT), a 9% increase in total assets under management (AUM), and a 11.3% decline in statutory NPAT over the year. The result was far below market expectations across the board and investors were disgruntled.
It's not the first headwind to hit AMP this year either. The business announced that Blair Vernon will take the reins as the company's new CEO and sitting CEO in January. Investors were spooked by the news.
Alexis George will retire from her executive roles on the 30th of March. George has served as AMP's CEO since August 2021, overseeing a period of significant transformation and growth for the company.
The move created a flurry of concerns about business uncertainty after AMP spent the past couple of years reshaping and repositioning its business. AMP sold off its advice and insurance segments in August 2024.
The recent conflict in the Middle East hasn't helped either. Ongoing geopolitical tensions and concerns that surging oil prices will push Australia's inflation data higher has weighed heavily on financial stocks like AMP.
But there is some good news…
While 2026 so far has been a series of bad news events for the AMP share price, it looks like analysts are confident that the stock will shift course and begin soaring again over the next 12 months.
TradingView data shows that eight out of 11 analysts have a buy or strong buy rating on AMP. The average target price is $1.705, which implies a 42.08% upside at the time of writing. But others are even more bullish and think the stock could soar 58.33% to $1.90 in the next 12 months.
Brokers have reviewed, and some revised their rating, on AMP shares after the company's financial results.
The team at Morgan Stanley has a buy rating and $1.90 target price on the stock, Citi also has a buy rating and $1.80 target price.
Meanwhile, Jefferies has a buy rating with a price target of $1.75. And the teams at Jarden and Ord Minnett have a buy rating and a $1.65 target price on the AMP share price.
