NAV - American Express gets double-upgrade Rocket stock double-cut by JPMorgan

American Express (AXP) rises 1.3% in premarket trading after JPMorgan analyst Richard Shane double-upgrades the stock to Overweight from Underweight, as the company is poised to rebound from being a top-line laggard to top-line leader in H2 2021."Pent-up demand for leisure travel has potential to be unprecedented catalyst in 2H21," Shane writes.Shane has an "increasingly optimistic macro outlook" as forecasts for unemployment and GDP improve and forward 10YT curve steepens.For the consumer finance sector, "we look for 10-15% multiple expansion for the group as a whole through YE2021," he writes.Also upgrades Synchrony Financial (SYF) to Overweight from Neutral, and Santander Consumer USA (SC) to Neutral from Underweight.Cuts Rocket Companies (RKT) to Underweight from Overweight, citing stronger headwinds from the rapid steepening of the yield curve. "Volumes will likely remain elevated in 1H21 as borrowers try to lock in low rates, but GoS margins will begin to compress tracking the primary/secondary spread," Shane

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American Express gets double-upgrade, Rocket stock double-cut by JPMorgan