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American Express Stock Gets an Upgrade on View It Would be Resilient in a Recession

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Summary
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87% Informative

Bank of America analysts upgraded American Express stock to a "buy" rating on Friday .

They upgraded the stock, but cut their price target to $ 274 from $ 325 to reflect lowered revenue and earnings forecasts as they expect consumer spending to slow.

American Express shares have lost about 15% since the start of the year .

The card issuer is set to report first-quarter earnings on Thursday .

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