Citi analyst Arren Cyganovich raised the firm’s price target on American Express to $133 from $128 and keeps a Sell rating on the shares. The analyst expects American Express to provide a positive 2023 outlook, but says it should see some slowing momentum from its 2022 growth as the post COVID tailwinds begin to abate. Citi remains concerned about a potential slowdown in spending volumes in the second half of this year and into 2024.
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Published first on TheFly
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