American Express price target lowered to $202 from $203 at BofA

BofA lowered the firm’s price target on American Express to $202 from $203 and keeps a Buy rating on the shares. The firm thinks the risks to the Consumer Finance stocks are elevated coming into Q3 reporting, but expects Q3 results to be generally in line with expectations on EPS and PPNR, the analyst tells investors in an earnings preview note for the group. AmEx is the analyst’s top pick in the sector, as the firm views the combination of high-end consumers and a commercial U.S. and international customer base favorably and adds that its credit quality is “best in class.”