American Express "overweight"

03/20/06 - Prudential Financial

NEW YORK, March 20 (newratings.com) - Analyst Matthew Park of Prudential Financial reiterates his "overweight" rating on American Express Co (AXP). The target price is set to $64.

In a research note published this morning, the analyst mentions that Visa is expected to increase its marketing push on Visa Signature, a product in direct competion against American Express. According to the analyst, Amerian Express' payment network is likely to continue to have a competitive edge over Visa.