RBC Capital analyst Jon Arfstrom raised the firm’s price target on American Express to $263 from $253 and keeps an Outperform rating on the shares. The company’s investor day themes featured a continued positive longer term outlook, the analyst tells investors in a research note. American Express is seeing some continued moderation in near-term bilings growth when compared to recent post-pandemic recovery highs, but its management remains very confident on the longer term growth momentum and opportunities for the premium consumer, SME, and international businesses, RBC added.
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