Goldman Sachs Upgrades American Express (AXP) to Buy
Get Alerts AXP Hot Sheet
Rating Summary:
19 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
Goldman Sachs upgraded American Express (NYSE: AXP) from Neutral to Buy with a price target of $102.00.Analyst Ryan M. Nash sees revenue improvement on the horizon.
"We upgrade AXP to Buy and see 13% upside, as an improving macro should drive upside to revenue (could reach 7%). Also, (1) increased customer acquisition, (2) share gains in lending, (3) growth from several key long-term initiatives, and (4) opex containment should drive upside to EPS. We are 2% above consensus in 2014 and 3% in 2015," said Nash.
"While thematically it does not “check all boxes,” shares trade at 13.1x 2016E (15.3x for peers), we think valuation reflects these risks," he added.
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 $88.63 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
- BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
- Summit Insights Downgrades Silicon Labs (SLAB) to Hold, 'expect its stock to be an inline performer'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Hot Upgrades, UpgradesRelated Entities
Goldman Sachs, Definitive AgreementSign 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!