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Actionable news in AXP: AMERICAN EXPRESS COMPANY,

American Express (AXP) Stock Price Target Cut After Earnings, Revenue Miss

NEW YORK (TheStreet) -- American Express Co. (AXP - Get Report) stock is falling 5.91% to $71.99 in early morning trading, after the credit card company posted lower than expected third quarter financial results yesterday after the market close, which caused Credit Suisse to drop its price target on the stock to $71 from $74 this morning.

The firm maintained its "underperform" rating as the company deals with unfavorable foreign exchange rates and slower U.S. growth.

Marketing and rewards costs are also expected to continue to increase as American Express losses volume after the loss of the Costco (COST) partnership, which will end in 2016, Credit Suisse said in an analysts note.

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