American Express’ improvement in billed business ‘positive,’ says Wells Fargo

American Express (AXP) Chairman and CEO Steve Squeri said billed business volume growth was up in Q4 vs. Q3 and Wells Fargo analyst Donald Fandetti tells investors in a research note that this improvement is an “obvious positive” for the shares. The firm wonders whether American Express is benefiting from a more confident consumer base post-election, and made no change to its Overweight rating and $300 price target