American Express price target raised to $275 from $274 at BofA

BofA raised the firm’s price target on American Express (AXP) to $275 from $274 and keeps a Buy rating on the shares. The firm views the Q1 report as a positive and is “struck by management’s confidence in the outlook in a fluid macro backdrop.” American Express called out steady spend trends, demand for premium cards, and positive credit metrics, the analyst tells investors in a research note. BofA says its conversations suggest some investors will remain skeptical that the company can achieve its outlook in a weakening macro, but the firm views this as a buying opportunity.