BTIG raised the firm’s price target on American Express (AXP) to $272 from $270 and keeps a Sell rating on the shares. The firm notes that its cautious stance on consumer spending has already been reflected with the sub-prime consumer and moving up through the near-prime and prime consume, even though Amex has kept net write-off rates below 2019 levels through tighter levels of underwriting, the analyst tells investors in a research note. The company’s comps also get tougher later in 2025 as 2024 product refreshes are comped against, the firm added.
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