Morgan Stanley raised the firm’s price target on American Express (AXP) to $250 from $246 and keeps an Equal Weight rating on the shares. Spending slowed more than expected, but a reserve release drove a modest EPS beat, the analyst noted. Credit looks “solid” with delinquencies still below pre-COVID, but reserves need to move higher in Q2, the analyst added.
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Read More on AXP:
- American Express: A Strong Buy with Growth Potential and Resilience
- American Express price target raised to $275 from $274 at BofA
- American Express price target lowered to $240 from $272 at BTIG
- American Express: Hold Rating Amid Mixed Financial Performance and Macroeconomic Uncertainty
- Cautious Outlook on American Express: Concerns Over Earnings Potential and Sustainability
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