Morgan Stanley raised the firm’s price target on American Express (AXP) to $362 from $311 and keeps an Equal Weight rating on the shares. The firm upgraded its view on the North America consumer finance group to In-Line from Cautious. Interest rates are moving lower and the group’s near-term credit performance keeps improving, even amid slower hiring, which lessens downside risks for the stocks, the analyst tells investors in a research note. Morgan Stanley upped price targets in the sector as it rolled forward models to 2027.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AXP:
- Japanese Holdings Give Berkshire Hathaway’s (BRK.B) Stock Portfolio a Boost
- American Express Platinum Card Refresh Falls Short: Sell Rating Due to Competitive Pressures and Lack of Enhancements
- American Express’s Strategic Card Refresh and Market Positioning Justify Buy Rating
- American Express’s Strategic Enhancements and Competitive Positioning Drive Buy Rating
- Morning News Wrap-Up: Thursday’s Biggest Stock Market Stories!