American Express price target raised to $425 from $390 at RBC Capital

RBC Capital raised the firm’s price target on American Express (AXP) to $425 from $390 and keeps an Outperform rating on the shares as part of a broader research note previewing Q4 for Consumer Finance names. The firm expects stable fundamentals as the consumer continues to demonstrate resiliency in a solid and potentially improving macro environment, the analyst tells investors in a research note. For the quarter, RBC expects positive sequential loan growth to be driven by seasonal tailwinds, forecasting “modest improvements in core credit metrics”.