American Express price target lowered to $246 from $310 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on American Express (AXP) to $246 from $310 and keeps an Equal Weight rating on the shares. For consumer lenders, the Trump Administration’s hardline approach to tariffs is “difficult to ignore” and there’s clearly more downside to the group if tariffs remain near current levels, the analyst tells investors. If tariffs remain in place, risks to growth would skew meaningfully to the downside and risks to inflation to the upside, adds the analyst, who is downgrading the firm’s Consumer Finance industry view to Cautious from Attractive.