American Express price target raised to $253 from $250 at RBC Capital

RBC Capital raised the firm’s price target on American Express to $253 from $250 and keeps an Outperform rating on the shares. The company’s Q1 results showed a “good quarter” with revenues that met expectations, controlled core expenses, and acceptable credit trends, the analyst tells investors in a research note. While spend volumes continued to moderate, American Express management remains confident on the near and longer term revenue trajectory, the firm added.