AMP (ASX:AMP) reported solid net flows in its Platforms wealth management business, with the North platform's performance helping extend the company's positive streak to six straight quarters, Jarden said in a Thursday note.

With the cash margin repricing on Platforms, the company has now delivered on two out of the three initiatives Jarden previously discussed, and the final one would be to launch a strategic review of its bank unit.

The equity research firm views a loan book sale or a total sale of the bank as more attractive options than the current strategy, which will likely make it difficult to deliver cost of capital returns before 2030.

"Overall, we continue to remain positive on AMP given exposure to superannuation tailwinds and capital discipline," Jarden said as it maintained its overweight rating on the company.

It also raised its price target on AMP to AU$1.65 from AU$1.55, reflecting confidence in Platforms' growth trajectory.

AMP's shares were down nearly 2% in recent Friday trade.