** American Express' AXP.N top brass reassured investors concerned about intensifying competition for affluent customers after resilient spending by cardholders helped the company surpass second-quarter profit estimates on Friday

** AmEx will also roll out updates to its Platinum cards later this year for consumers and businesses in the United States, making its "largest investment ever in a card refresh"

** Median PT of 31 brokerages covering the stock is $320, with an average rating of "hold", according to data compiled by LSEG

ALL EYES ON PLATINUM CARD REFRESH

** BofA Global Research ("buy," PO: $353) says investors are focused on competition and the impact it will have on the Platinum refresh; they are underestimating Amex's brand and expertise at serving premium members

** Brokerage continues to view the customer base as enviable and performing quite well amid a more uncertain macro backdrop

** Morgan Stanley ("equal-weight," PT: $311) says Platinum refresh in 2H25 is important for future revenue growth, but initially this results in higher Card Services costs, while higher fees take 2 years to run-rate

** Wolfe Research ("peer perform") says "as the category leader in premium cards, AXP has benefited from a generational shift in the appeal of premium products that has increased the total addressable market"

** BTIG ("sell," PT: $277) says higher Cardmember expenses from card refreshes drive earnings concerns

(Reporting by Joel Jose in Bengaluru)

((joeljose@thomsonreuters.com))