American Express (AXP) impressed investors�last night when it reported�quarterly earnings that bested expectations, but it wasn’t enough to keep the love flowing this morning�after analysts at FBR cut their price target�for the stock.
Analysts at FBR reduced�their 12-month�outlook to�$55 a share, an 8% below�the previous price target of�$60 a share.
Shares of American�Express�fell 1.5% to $45.45 a share during morning market action.
As our colleague Avi Salzman reported after the market close Wednesday, the credit card company�beat earnings expectations on continued growth in cardmember spending, and shares rose� 1.4% during�after-hours trading. But�revenue fell just shy of the expected $7.58 billion.
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