Deutsche Bank Downgrades American Express (AXP) to Hold

Deutsche Bank downgraded American Express (NYSE: AXP) from Buy to Hold with a price target of $66. Analyst David Ho said he would prefer a better entry point.

"While 1Q16 results showed improvement in key metrics, rising expectations limits upside to the stock, and we prefer a better entry point. While we still like the embedded operating leverage, we are more cautious due to: 1) Rising revenue growth expectations; 2) More risk to sustaining and monetizing recent billings growth; 3) Lower perceived credit quality," said Ho.

For an analyst ratings summary and ratings history on American Express click here. For more ratings news on American Express click here.

Shares of American Express closed at $65.02 yesterday.

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