American Express downgraded to Neutral from Outperform at Baird

Baird analyst David George downgraded American Express to Neutral from Outperform with an unchanged price target of $185. The stock’s risk/reward is more balanced following the significant outperformance, the analyst tells investors in a research note. The firm continues to like the American Express franchise and its ability to drive sales growth, but it no longer finds the risk/reward as attractive, with the stock trading at 15-times earnings amid a softer economic outlook.