American Express price target lowered to $360 from $400 at Truist

Truist analyst Brian Foran raised the firm’s price target on American Express (AXP) to $360 from $400 and keeps a Buy rating on the shares as part of a broader research note on Financials. The firm is updating its models to incorporate the higher cost of equity and thus lower-than-historical multiples that the market is ascribing, the analyst tells investors in a research note.