Analyst Upgrades AmEx (AXP) to Hold; Says Co. to Be Least Affected by New Credit Card Legislation
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A Stifel Nicolaus analyst is out with an upgrade of American Express (NYSE: AXP) this morning, saying that the lender will be among one of the credit card companies that is least affected by the recently proposed new credit card legislation. The analyst moved his investment rating on AmEx from Sell to Hold.
Further, the firm pointed to AmEx's "spend-centric" business model and its minimal exposure to sub prime loans. The Stifel analyst currently expects AmEx to report FY09 and FY10 EPS of $0.65 and $0.75, respectively. The Street is expecting FY09 EPS of $0.97 and FY10 EPS of $1.44.
After trading lower in this morning's pre-market session, shares of AmEx have now bounced and are currently up 1.2% to $22.53.
To see all the market-moving analyst calls on shares of American Express, visit our Analyst Ratings page.
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