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Fly News Breaks for February 9, 2016
COST, AXP
Feb 9, 2016 | 07:02 EDT
Deutsche Bank analyst David Ho lowered his price target for American Express (AXP) to $66 but keeps a Buy rating on the name. The analyst believes the company can generate "solid underlying earnings growth" through 2017 excluding Costco (COST). American Express should be viewed as a "higher quality play within Financials" given better credit and capital return relative to peers, Ho tells investors in a research note. "Life after Costco will be fine," he writes.
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