Goldman Sachs Downgrades American Express (AXP) to Neutral, Sees Limted Upside

January 14, 2013 7:38 AM EST
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Price: $77.49 +1.16%

Rating Summary:
    11 Buy, 16 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 5 | Down: 5 | New: 0
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Goldman Sachs downgraded American Express (NYSE: AXP) from Buy to Neutral while maintaining a price target of $65.00.

The firm sees limited upside to out-year estimates give a challenging revenue environment. Goldman said while being helped from fee initiatives growth and international expansion, these driver are already included in the consensus and upside to spend volumes seems unlikely near-term.

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 $61.24 yesterday.

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