American Express: Jefferies raises target price

(CercleFinance.com) - Jefferies maintains its "hold" rating on American Express, having raised its target price from 105 dollars to 130 dollars, after meeting with the group's CFO regarding the momentum of revenue, macroeconomic influences and competition in the sector.


Revenue growth is multi-faceted and management is targeting a sustainable strategy rather than a short-term one, the broker reports, adding that growth prospects and the perceived value of American Express products are strong.


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