Veteran fund manager upgrades Costco, downgrades American Express, citing consumer demand and company performance.

From Yahoo Finance: 2025-06-30 19:06:00

Veteran fund manager Chris Versace is making bold moves with American Express and Costco, downgrading the former after a 35% gain and upgrading the latter due to consumer demand and expansion. American Express is refreshing its Platinum Card, targeting younger generations and aiming to increase card fee revenues by 7%. Costco is seeing strong sales, but growth may moderate as tailwinds cycle. The company raised its membership fees for the first time in seven years. Both companies are performing well in the market, with American Express up 7.3% this year and Costco up 7.75%.



Read more at Yahoo Finance: Veteran fund manager makes bold move on Costco, American Express