American Express price target lowered to $150 from $152 at Citi

Citi analyst Arren Cyganovich lowered the firm’s price target on American Express to $150 from $152 and keeps a Sell rating on the shares post the Q1 results. While March was the strongest month ever in spending, as the company mentioned on the earnings call, it slowed from easier growth compares in January and February, the analyst tells investors in a research note. In "the face of a likely recession," Citi still believes the shares are at risk for "overly zealous purchase volume and related discount revenue forecasts."