Truist raised the firm’s price target on American Express (AXP) to $340 from $335 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results for U.S. Banks. The recessionary fears that drove the steep sell-off ahead of last quarter’s results mostly played out in multiples, as did the subsequent rebound, the analyst tells investors in a research note. For the company, monthly data have been pretty benign, and Amex put out a great slide mid-quarter showing how their Gen Z and Millennial customers are outperforming the industry, Truist notes.
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