American Express Faces Tougher Growth Outlook

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001563-american-express-faces-tougher-growth-out/

Morgan Stanley trimmed its price target for American Express to $50.50 from $52 and said it remains cautious on credit card, student lender and commercial finance stocks.

“Concerns over the secular substitution threat posed by home equity loans have caused us to lower our growth forecast for American Express’ U.S. card portfolio…For American Express and other U.S. card issuers, growth is going to be tougher going forward, we believe,” it said.

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American Express Faces Tougher Growth Outlook

Unknown Author

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