Morgan Stanley updates on American Express' AXP investment in the digital payment market with its "Serve" product.
In the report Morgan Stanley writes, "Next 12-18 months critical. AXP needs to market the product, acquire and market partnerships/co-brands, roll out to international, get feedback from users and enhance the offering to capture share in a rapidly evolving market. Rapid response to user feedback is critical for establishing Serve as a 'go-to' wallet."
AXP has an Overweight Rating and closed at $45.72 yesterday.
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