UPDATE: Jefferies Raises PT on American Express Ahead of Q2 Earnings

In a report published Monday, Jefferies analyst Daniel Furtado reiterated a Hold rating on American Express AXP, and raised the price target from $62.00 to $75.00.

In the report, Jefferies noted, “With limited avenues for top line growth, card stocks are mainly expense control and capital return stories at this point in the cycle. Heading into Q2 earnings, credit is likely to be a tailwind, with reserve releases probable. We see DFS & AXP the best positioned to surprise.”

American Express closed on Friday at $78.33.