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Fly News Breaks for March 3, 2015
AXP
Mar 3, 2015 | 06:45 EDT
Macquarie downgraded American Express to Underperform based on a long-term negative view on upcoming March catalysts, particularly rescheduling of the analyst day, concerns a settlement in the anti-steering lawsuit will be difficult and fears that CCAR may be negative. Macquarie believes revenue growth is limited for the next 2 years and expects AmEx's pursuit of card loan growth to generate increased economics from existing spend will result in a lower multiple. The firm's price target was lowered to $76 from $81.
News For AXP From the Last 2 Days
AXP
AXP
Apr 24, 2024 | 06:31 EDT
Wells Fargo raised the firm's price target on American Express to $265 from $250 and keeps an Overweight rating on the shares. The firm sees a good case for management to express greater confidence in or lean to the upper end of the EPS or revenue guide for 2024. With the macro haze fading, Wells believes investors will come away with a greater appreciation of the competitive position and moat.
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