American Express remains better positioned among its consumer finance peers, according to RBC.
RBC is optimistic on American Express despite an uncertain near-term outlook for the U.S. consumer. Analyst Jon Arfstrom upgraded American Express to outperform from sector perform. He increased his price target by $3 to $200, suggesting more than 25% upside from Friday's close. RBC said it has a balanced longer-term outlook on the consumer.
If the measure passes, companies that are more reliant on late fees will be more at risk, according to Arfstrom. The analyst noted he sees a decision on the matter sometime in the fall. American Express' "higher concentrations of super prime and prime customers should drive better than peer losses over the cycle," said the analyst.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Airbnb and Blackstone shares rise on S&P 500 inclusion, and other stocks on the moveAirbnb, Blackstone and American Express are among the stocks in the spotlight.
Read more »
Man, 25, dies in shooting at party that injured 6 others, family saysInvestigators believe the shooting was a targeted attack that came from a vehicle.
Read more »
Bay Area high school football: Weekend scoreboard, how Top 25 faredHigh school football Week 2, 2023: Results from games played across the Bay Area.
Read more »
NASA image shows likely lunar crater caused by crash of Russia's Luna 25 missionA new crater has appeared on the moon, and it was likely created when Russia's uncrewed Luna 25 mission crashed into the lunar surface.
Read more »
This week’s top 25 high school football rankings by The TimesA look at the Los Angeles Times' top 25 high school football teams in the Southland heading into Week 3.
Read more »
Malaysia’s Capital Control Experiment Resonates 25 Years OnMahathir’s shock move to stanch outflows changed the way the world thinks about maps and money.
Read more »