Was Micron (MU) the first time we saw a stock rally after a forecast cut and was that because it sold at only 5 times earnings? If rates falling are a sign of a recession why is the most sensitive section to recession, the homebuilders, climbing? Or could the decline in rates be a sign that inflation is receding and the Federal Reserve is winning?
Piper takes American Express (AXP) price target down to $163 per share from $202, worries an economic slowdown will disrupt discretionary spend and cross border travel even as there's no sign of that happening. PayPal (PYPL), to $93 from $140; Block (SQ) to $84 from $105. Likes AXP more. Same with Visa (V) to $204 from $239. This one will trade with AXP. Mastercard (MA) to $298 from $357. Fintech remains hated?