Monness Crespi raised the firm’s price target on American Express (AXP) to $330 from $300 and keeps a Buy rating on the shares. While the firm highlights that Amex valuation is “approaching a multiple such that profit taking could occur,” it argues that if interest rate stability persists, with consumer resilience on the high end, the stock is “a continuing network winner” with more upside estimate revision potential. Notwithstanding performance in shares throughout 2024, the firm argues that “a structurally higher multiple is easier to underwrite at Amex.”
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Read More on AXP:
- American Express price target raised to $305 from $252 at Morgan Stanley
- CFPB again taking aim at credit card industry, rewards programs, WaPo reports
- American Express Reports Stable Credit Performance Trends
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
