B of A Securities Downgrades American Express to Neutral, Maintains Price Target to $263
Portfolio Pulse from Benzinga Newsdesk
B of A Securities has downgraded American Express (NYSE:AXP) from Buy to Neutral, while maintaining the price target at $263.
August 21, 2024 | 10:34 am
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NEGATIVE IMPACT
B of A Securities downgraded American Express from Buy to Neutral, maintaining the price target at $263. This downgrade may indicate a less optimistic outlook on AXP's short-term performance.
The downgrade from Buy to Neutral by a major analyst like B of A Securities suggests a shift in sentiment, potentially leading to a negative short-term impact on AXP's stock price. Maintaining the price target indicates no expected change in valuation, but the downgrade itself may cause investor caution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100