Morgan Stanley Updates On AXP Digital Payments

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.