JPMorgan raised the firm’s price target on American Express to $240 from $214 and keeps an Overweight rating on the shares as part of the firm’s consumer finance Q1 earnings preview. Entering Q2, investors should take advantage of the recent rally in consumer finance names by taking profits and reducing risk, the analyst tells investors in a research cenote. While the firm is not suggesting “the sky is falling,” it believes the sector has re-rated too quickly, creating a widening gap between fundamentals and valuations.
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