American Express shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral, despite raising the price target from $268 to $286.
Portfolio Pulse from Benzinga Newsdesk
American Express shares declined after JP Morgan downgraded the stock from Overweight to Neutral, even though the price target was increased from $268 to $286.
October 07, 2024 | 5:48 pm
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American Express shares are trading lower following a downgrade by JP Morgan from Overweight to Neutral, despite an increased price target from $268 to $286.
The downgrade from Overweight to Neutral by JP Morgan suggests a less bullish outlook on American Express, which typically leads to a negative short-term impact on the stock price. The increase in price target to $286 indicates some positive long-term expectations, but the immediate market reaction is likely driven by the downgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100