American Express Downgraded, Viacom Boosted on Cost-Cutting

American Express downgraded, Viacom gets a boost, and Harley-Davidson is driven lower, all in Tuesday's analysts' actions. American Express was downgraded to UNDERPERFORM with a $68 price target at Oppenheimer. The firm said competition has increased, presenting challenges to profit growth. Deutsche Bank increased Viacom's price target to $85. Deutsche remains confident management can cut costs and boost profits. Harley-Davidson had price targets cut to $76 at Wedbush. Though an OUTPERFORM rating was kept, the firm said sales and profits would likely take a hit after a wintry first quarter and on currency challenges.