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American Express stock rises to pace the Dow's gainers after BofA backs away from bearish stance

·1 min read
American Express stock rises to pace the Dow's gainers after BofA backs away from bearish stance
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Shares of American Express Co. rose 0.8% in afternoon trading Thursday, enough to pace the Dow Jones Industrial Average gainers, after BofA Securities analyst Mihir Bhatia backed away from from his bearish view on the charge card and travel-related services company, citing a now "balanced" risk-reward profile. The stock has lost 4.6% since the end of July, while the SPDR Financial Select Sector ETF has gained 3.4% and the S&P 500 has tacked on 1.4%. Bhatia attributed the stock's recent underperf