RBC Capital raised the firm’s price target on American Express (AXP) to $350 from $330 and keeps an Outperform rating on the shares after its Q4 earnings. The company’s core results were solid with stronger revenue and spend activity driving trends, balanced against higher but acceptable expense growth, the analyst tells investors in a research note. RBC adds that credit continues to be very stable and the loan loss provision for American Express was modestly lower than expected.
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