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Stock Market & Financial Investment News

News Breaks
June 16, 2014
12:03 EDTAXPAmerican Express reports May net charge off rate 1.6% vs. 1.6% last month
Reports May 30 days past due loans 1.0% vs. 1.0% last month.
News For AXP From The Last 14 Days
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October 5, 2015
07:19 EDTAXPOpen Mobile Media to hold a summit
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October 2, 2015
13:54 EDTAXPAmerican Express files automatic mixed securities shelf
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October 1, 2015
08:10 EDTAXPAmerican Express cards now accepted at Sam's Club
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September 24, 2015
06:50 EDTAXPAmerican Express price target lowered to $70 from $85 at Jefferies
Jefferies analyst John Hecht says that even with the recent selloff, shares of American Express do not offer "compelling rewards" at current levels. Hecht believes AmEx is nearing saturation in its core demographic, the highly-affluent consumer, and views the Costco (COST) loss as a "significant challenge to overcome." American Express remains the industry leader in terms of rewards, but the gap to competitors has narrowed, Hecht tells investors in a research note. The company faces "several discrete headwinds" over the coming quarters, the analyst concludes. He cut his price target for AmEx shares to $70 from $85 and keeps a Hold rating on the name. The credit card provider closed yesterday down 8c to $75.63. Hecht has Buy ratings on card peers Discover (DFS) and Synchrony Financial (SYF).

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