Amex Stock Drops as BofA Analysts Warn of Weak Consumer Spending

Key TakeawaysAmerican Express (Amex) has "limited incremental upside," according to Bank of America Securities (BofA) analysts.The investment firm downgraded Amex stock to "neutral" from "buy," while retaining a price target of $263 a share.Analysts warned of Amex facing a challenging spending environment, even among high-end consumers. American Express (AXP) shares traded lower Wednesday after Bank of America Securities analysts raised concerns that the stock was trading at a premium without too much poten ...