BMO Capital Raises Price Target on American Express (AXP) to $75; Reiterates Market Perform
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- Instinet Raises Price Target on Noble Energy (NBL) to $44; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!