BMO Capital Raises Price Target on American Express (AXP) to $75; Reiterates Market Perform
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BMO Capital reiterated a Market Perform rating on American Express (NYSE: AXP), and raised the price target to $75.00 (from $73.00), following the company's 3Q earnings report. AXP’s 3Q16 core EPS of $1.24 beat consensus of $0.97 by 28%. The beat was top-linedriven.
Analyst James Fotheringham commented, "Following AXP’s 3Q16 24% beat, we are raising our estimates by 2-4% and our target price to $75. We assume AXP’s growth initiatives come at a cost (i.e., ongoing required investments and falling discount rates). Among U.S. Specialty Finance stocks, we continue to prefer two other credit card lenders: Synchrony (SYF, $27.00, Outperform) and Capital One (COF, $73.62, Outperform)."
Shares of American Express closed at $61.25 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBMO Capital, Earnings
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