RBC Capital lowered the firm’s price target on American Express (AXP) to $415 from $425 and keeps an Outperform rating on the shares as part of a broader research note previewing Q1 results for Consumer Finance names. The firm expects seasonal trends to drive lower loan balances with stable to improving year-over-year credit metrics. RBC adds that it expects conference calls to focus on commentary around consumer sentiment and health amid recent macro volatility, even though it believes that “fundamentals remain healthy”.
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