American Express price target raised to $320 from $283 at UBS

UBS raised the firm’s price target on American Express (AXP) to $320 from $283 and keeps a Neutral rating on the shares. A re-acceleration in spend, either among U.S. consumer or commercial cardmembers, is likely needed for AmEx to get revenue growth on the mid-to-upper end of 2024’s initial 9%-11% guidance, the analyst tells investors in a research note. The extent of a rebound on the commercial side may take longer, the firm says, adding that revenue guidance below the 9%-11% range may disappoint the Street.