Piper Sandler Downgrades American Express to Underweight, Lowers Price Target to $149
Portfolio Pulse from richadhand@benzinga.com
Piper Sandler analyst Kevin Barker has downgraded American Express (NYSE:AXP) from Neutral to Underweight and lowered the price target from $172 to $149.
July 24, 2023 | 10:03 am
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NEGATIVE IMPACT
American Express has been downgraded from Neutral to Underweight by Piper Sandler, with a lowered price target of $149.
The downgrade from Neutral to Underweight by Piper Sandler indicates a negative outlook for American Express. The lowered price target from $172 to $149 suggests that the analyst believes the stock is overvalued at current levels. This could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100