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Evercore ISI Lowers American Express (AXP) Price Target after Q4 Results
Evercore ISI analyst John Pancari lowered the price target for American Express (AXP) to $393 from $400, while maintaining an “In Line” rating, following the company’s Q4 results. Despite a slight miss in holiday-quarter earnings, American Express projected full-year profit above Wall Street expectations, attributed to strong spending from younger and affluent customers. The company highlighted increased spending from Gen Z and millennials on their cards, a first for its U.S. consumer segment.