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AXP

American Express

$97.67

-1.38 (-1.39%)

07:30
03/13/18
03/13
07:30
03/13/18
07:30

American Express' LT business model 'hitting on all cylinders,' says Oppenheimer

Oppenheimer analyst Ben Chittenden reiterated his Outperform rating on American Express and has a $117 price target following last week's investor day. American Express has a strong brand that is building out its client touch points and a positive tailwind from tax reform which is driving corporate travel and expense, Chittenden told investors in a research note. He also pointed out that the biggest takeaway from the investor day "wasn't necessarily some updated guidance that one can plug into an earnings model," but that the company's long-term business model is "hitting on all cylinders," with a more confident tone regarding competition and its go-forward strategy. "It's a work in progress, but we continue to like the AXP story," the analyst said.

  • 30

    May

AXP American Express
$97.67

-1.38 (-1.39%)

01/22/18
01/22/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Neutral from Overweight at Atlantic Equities with analyst James Cordwell citing signs that iPhone demand is beginning to soften and emerging challenges to the smartphone's dominance. 2. General Electric (GE) downgraded to Neutral from Buy at BofA/Merrill with analyst Andrew Obin saying he expects management to lower 2018 guidance when it reports fourth quarter earnings on Wednesday. 3. American Express (AXP) downgraded to Neutral from Buy at Guggenheim with analyst Jeff Cantwell citing CCAR risk in 2018, the fact that its balance sheet is liability-sensitive, and the assumption that the company's provision expense will be significantly higher than expected in fiscal 2018. 4. Eli Lilly (LLY) downgraded to Underperform from Neutral at Credit Suisse with analyst Vamil Divan saying he does not believe Lilly is on track to hit its mid-term guidance of 5% annual sales growth from 2015-2020. 5. Symantec (SYMC) downgraded to Neutral from Outperform at Credit Suisse with analyst Brad Zelnick saying accelerating enterprise expectations do not square with mixed channel sentiment. The analyst also lowered his price target on the shares to $30 from $36. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/12/18
NOMU
02/12/18
UPGRADE
Target $108
NOMU
Buy
American Express upgraded to Buy from Neutral at Nomura Instinet
Nomura Instinet analyst Bill Carcache upgraded American Express to Buy with an unchanged price target of $108. The analyst cites valuation for the upgrade as he believes the company's risks are already adequately discounted in shares.
03/08/18
SPHN
03/08/18
NO CHANGE
Target $97
SPHN
Equal Weight
Competition forcing American Express into lower margin, higher risk areas, says Stephens
After attending American Express' investor day meeting, Stephens analyst Vincent Caintic said he believes competition is forcing AmEx away from its core fee/discount-rate focus into areas that are lower margin, higher risk and less efficient operationally. While he thinks these are necessary moves for AmEx, he believes the multiple should continue to compress given the dynamic and he does not think American Express shares can return to their 18x forward P/E multiple of the past. Caintic maintains an Equal Weight rating on American Express following the investor event.
03/08/18
MSCO
03/08/18
NO CHANGE
Target $109
MSCO
Equal Weight
Morgan Stanley trims American Express estimates after investor day
Following American Express' investor day meeting yesterday, Morgan Stanley analyst Betsy Graseck trimmed her FY18 EPS estimate by 1% to reflect sharper discount rate pressure and higher provisioning from faster loan growth. Her 2018 revenue growth rate estimate was edged slightly lower to 7.1%, though she notes that is still within management's guided range of 7%-8%. Like its card issuing peers, AmEx highlighted the difficulty of this year's Fed stress test scenarios, added Graseck, who lowered her 2018 CCAR buyback expectation to $4.6B from $5B. She maintains an Equal Weight rating and $109 price target on American Express shares.

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LYFT

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DERM

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NVRO

Nevro

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GOOG

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GOOG

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LGIH

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INVH

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PULM

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Sientra

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INVH

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FDX

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LYFT

Lyft

$0.00

(0.00%)

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