American Express Upgraded To Overweight From Equal Weight At Morgan Stanley
Morgan Stanley analyst Betsy Graseck upgraded American Express to Overweight from Equal Weight with an $186 price target.
The analyst names the stock the firm's new top pick in consumer finance. The firm is tilting its stock picks toward higher credit quality, sustainable revenue growth, and positive operating leverage.
American Express has a lower risk credit skew with higher FICO card members, and its credit losses are hitting pre-COVID levels only by 2024 while all other card peers will "overshoot on deterioration," the analyst tells investors in a research note.
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