BofA raised the firm’s price target on American Express (AXP) to $265 from $263 and keeps a Neutral rating on the shares. After credit card issuers reported monthly operating metrics, BofA says it views the results positively and believes August metrics should alleviate investor concerns about consumer credit that were rekindled by Ally‘s (ALLY) comments last week. While credit will likely remain a focal point for investors, the firm is “encouraged by QTD performance,” the analyst tells investors.
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