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American Express stock edges lower after Morgan Stanley cuts rating

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Yahoo Finance’s Brian Sozzi discusses American Express stock edging lower after Morgan Stanley cuts rating.

Video Transcript

BRIAN SOZZI: All right, before we head to break, let's highlight another mover on the Yahoo Finance platform. Morgan Stanley analyst Betsy Graseck cut her rating on American Express to equal weight from overweight today. Her price target moves down to $143 from $223. The analyst thinks high end consumer spending is poised to slow as inflation takes a larger share of household disposable income, which, of course, could hit the bottom line of AmEx.