BMO Capital Raises Price Target on American Express (AXP) to $75; Reiterates Market Perform

October 20, 2016 9:45 AM EDT
Get Alerts AXP Hot Sheet
Price: $74.44 -0.63%

Rating Summary:
    8 Buy, 19 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 35 | New: 11
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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)."

For an analyst ratings summary and ratings history on American Express click here. For more ratings news on American Express click here.

Shares of American Express closed at $61.25 yesterday.



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