Bank of America analysts have upgraded American Express stock, believing that the credit card company will remain strong during a potential economic downturn. They highlighted the company's high-quality customer base as a factor that will help sustain earnings and manage credit losses. Despite the stock's 15% decline earlier in 2025, the analysts see this as an opportunity to invest in a top-tier company at an attractive valuation. The analysts anticipate that American Express will demonstrate resilience amidst economic uncertainties, with a focus on sustaining earnings amidst slowing consumer spending. They mentioned that previously, during challenging periods like the COVID pandemic and trade wars, American Express has performed well compared to other card issuers and the broader market. Looking ahead, the focus will be on the company's outlook for the year, rather than just its upcoming first-quarter results. American Express is expected to report its first-quarter earnings soon.