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Fly News Breaks for April 27, 2017
AXP
Apr 27, 2017 | 05:58 EDT
Nomura Instinet analyst Bill Carcache upgraded American Express to Neutral from Reduce and increased its price target to $78 from $63. The analyst sees near-term upside from a growing mix of spread lending, a resurgence in corporate spending, and a potential reduction in investment spending that will add to near-term earnings leverage.
News For AXP From the Last 2 Days
AXP
Apr 22, 2024 | 09:05 EDT
BMO Capital raised the firm's price target on American Express to $175 from $167 and keeps an Underperform rating on the shares. The firm cites the company's broad-based Q1 earnings beat, with higher than previously-modeled net interest income and slightly lower credit costs being partly offset by higher expected operating expenses. BMO adds however that it remains concerned that American Express's elevated loan restructuring rate could eventually bleed into higher credit provisions.
AXP
Apr 22, 2024 | 09:01 EDT
AXP
Apr 22, 2024 | 08:13 EDT
RBC Capital raised the firm's price target on American Express to $253 from $250 and keeps an Outperform rating on the shares. The company's Q1 results showed a "good quarter" with revenues that met expectations, controlled core expenses, and acceptable credit trends, the analyst tells investors in a research note. While spend volumes continued to moderate, American Express management remains confident on the near and longer term revenue trajectory, the firm added.
AXP
Apr 22, 2024 | 08:10 EDT
Morgan Stanley raised the firm's price target on American Express to $226 from $222 and keeps an Equal Weight rating on the shares following Q1 results that were better than expected, led by net interest income, credit, and expenses. The firm is taking forward EPS up 1%, noting that its 2024 estimate is now above the midpoint of management's EPS guidance at $13.02, though it maintains an Equal Weight rating, citing valuation.
