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American Express Pops as Morgan Stanley Cheers Revenue Outlook

Joe Deaux
5/27/14 5:53 PM EDT
Shares of American Express jumped on Tuesday making it TheStreet's Move of the Day. The company known for its classic green credit card received some love from Morgan Stanley after the bank reiterated its "overweight" rating, citing its expectation that revenue is poised to accelerate and several other factors. Morgan Stanley analyst Betsy Graseck wrote in a note to clients: "Revenue growth looks poised to accelerate, with several near-term catalysts including management presentations over the next 3 weeks, accelerating year over year revenue growth in second-quarter 2014, gain on travel JV finalized and expansion of merchant network in second-half 2014." Shares of American Express popped by 2.9% to $91.39, making it the top gainer in the Dow Jones Industrial Average.
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