Spirit downgrade, Nikola upgrade among today's top calls on Wall Street » 10:0807/0807/08/20
SPR, BA, EADSY, NKLA, KSS, MO, AXP
Check out today's top…
American Express downgraded to Neutral from Buy at Citi » 06:2107/0807/08/20
Citi analyst Jill Shea…
Citi analyst Jill Shea downgraded American Express to Neutral from Buy with a price target of $105, down from $110. The analyst cites valuation for the downgrade. Shea views American Express as more fairly valued at current share levels and sees more limited upside.
|Over a week ago|
American Express price target raised to $85 from $78 at Compass Point » 08:0307/0207/02/20
Compass Point analyst…
Compass Point analyst William Ryan raised the firm's price target on American Express to $85 from $78 and keeps a Neutral rating on the shares. The analyst does not expect a Q2 loss to be high enough to generate concern about the sustainability of the company's dividend. To reflect spending and credit trends, Ryan reduced his 2020 estimate on American Express to $1.48 from $2.00. A strong reserve build will likely lead the company to report a loss on the bottom line for Q2, says the analyst.
American Express to resubmit capital plan to Federal Reserve in Q4 » 09:3306/3006/30/20
In light of COVID-19 and…
In light of COVID-19 and its impact on the economy, the company will be resubmitting its capital plan to the Federal Reserve in the fourth quarter because of changes in financial markets and the macroeconomic outlook. The company's preliminary stress capital buffer requirement, which will take effect on October 1, 2020, is 2.5 percent. Taking into account the preliminary SCB, the minimum Common Equity Tier 1 capital ratio for the company will effectively be 7.0 percent, subject to confirmation of the SCB for the company through the CCAR process. The company's target range for its CET1 capital ratio remains at 10 to 11 percent. The CET1 ratio target range seeks to support the company's capital management objectives of maintaining a strong and flexible capital profile, while considering expectations from all stakeholders, including rating agencies. The company's first quarter CET1 capital ratio was 11.9 percent, above the target range. The company's framework for managing through this challenging economic environment is built on four principles: supporting its colleagues and winning as a team; protecting its customers and its brand; structuring the company for growth in the future; and remaining financially strong. To support these objectives, the company suspended share repurchases in mid-March, while maintaining its common stock dividends during the first half of the year. Future decisions on capital distributions will depend on various factors, including: the company's capital levels and regulatory capital requirements; actual and forecasted business results; economic and market conditions; revisions to, or revocation of, the Federal Reserve's authorization of the company's capital plan; and the CCAR process.
American Express intends to maintain dividend of 43c per share for Q3 » 09:3206/3006/30/20
American Express Company…
American Express Company provided an update on its capital plans following further instructions from the Board of Governors of the Federal Reserve System regarding the 2020 Comprehensive Capital Analysis and Review. For the third quarter of 2020, the company intends to maintain its current quarterly dividend of 43c per common share, subject to approval by the company's Board of Directors.
Fly Intel: Top five analyst downgrades » 09:5706/2206/22/20
KHC, ALB, AXP, FL, CRUS
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Kraft Heinz (KHC) downgraded to Sell from Neutral at Goldman Sachs with analyst Jason English saying he believes the company will "suffer outsized" sales and earnings declines over the next year as recent sales gains recede, private label share pressure resumes and commodities pressure margins. 2. Albemarle (ALB) downgraded to Underweight from Sector Weight at KeyBanc. 3. American Express (AXP) downgraded to Sell from Neutral at UBS. 4. Foot Locker (FL) downgraded to Neutral from Buy at B. Riley FBR with analyst Susan Anderson saying her channel checks indicate a larger amount of clearance in Europe compared to last year and higher clearance levels for Nike (NKE), which she believes will likely impact Foot Locker. 5. Cirrus Logic (CRUS) downgraded to Underweight from Equal Weight at Barclays with analyst Blayne Curtis saying while acknowledging the new content at Apple (AAPL), he believes Cirrus shares are more than reflecting those gains and sees downside to estimates given the likely loss of in-box earbuds this year and loss of its smart codec at Samsung (SSNLF).This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
American Express downgraded to Sell from Neutral at UBS » 06:0406/2206/22/20
UBS analyst Eric…
UBS analyst Eric Wasserstrom downgraded American Express to Sell from Neutral.
American Express downgraded to Hold from Buy at DZ Bank » 05:2306/1806/18/20
DZ Bank analyst Werner…
DZ Bank analyst Werner Eisenmann downgraded American Express to Hold from Buy with a $108 price target.
American Express reports May net write-off rate 2.5% vs. 2.0% last month » 12:0306/1506/15/20
Reports May 30 days past…
Reports May 30 days past due loans 1.6% vs. 1.7% last month.
American Express receives clearance to process local transactions in China » 14:0806/1406/14/20
American Express announced that its joint-venture in mainland China, Express Technology Services Company, has received approval from the People's Bank of China for a network clearing license. With this, American Express becomes the first foreign payments network to be licensed to clear RMB transactions in mainland China. The company expects to begin processing transactions later this year. Express Company is American Express' joint venture with Lianlian DigiTech, a Chinese fintech services company.