American Express price target raised to $375 from $348 at Truist

Truist analyst Brian Foran raised the firm’s price target on American Express (AXP) to $375 from $348 and keeps a Buy rating on the shares. The firm is updating its model by tweaking the discount rates for discount revenue and billings growths slightly, such that discount revenue grows slightly slower than spend going forward to mirror the historical trend as it sees the International segment continuing to grow the fastest for at least the next couple of years, the analyst tells investors in a research note.