Morgan Stanley raised the firm’s price target on American Express to $226 from $222 and keeps an Equal Weight rating on the shares following Q1 results that were better than expected, led by net interest income, credit, and expenses. The firm is taking forward EPS up 1%, noting that its 2024 estimate is now above the midpoint of management’s EPS guidance at $13.02, though it maintains an Equal Weight rating, citing valuation.
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