Citi Upgrades American Express (AXP) to Hold; Bear Case Losing Steam

Investing

Published: April 7, 2009 8:27 am

Citi upgrades American Express (NYSE: AXP) from Sell to Hold. Price target increased from $9 to $16.

Citi analyst says, “Given the stock performance over the past four months (shares down 40%) and some signs of a credit market recovery, the bear case scenario for AXP is simply less compelling.

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