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Credit card firm and Warren Buffett stock American Express Company (AXP) has been under growing pressure during the past few months, with shares slipping from $178 and change back in July to around $148, where it sits today. Altogether, the stock has shed around 30% from its all-time high around $195 per share, set back in early 2022.
A notable Wall Street analyst, Kevin Barker from Piper Sandler, rang the alarm bell on AXP back in July over student loan payment resumptions, slashing his price target to $149 from $172. A very well-timed call, given his downgrade came close to the stock's summertime peak.
