FBR Research Upgrades American Express (AXP) to Market Perform; Limited Downside Risk
More News related to AXP
- American Express OPEN(R) Announces Multi-Partner Government Contracting Program to Help Small Business Owners Win Government Contracts and Stimulus Funds
- American Express (AXP) Launches Business Development Services Unit
- American Express Creates New Unit to Provide Consulting and Business Development Services
- Notable Mergers and Acquisitions of the Day 11/18: AXP, GPN
- AmEx Buys Its Way Into the Online Payment Business
FBR Research upgrades American Express (NYSE: AXP) from Underperform to Market Perform. Price target increased from $25 to $37
FBR analyst says, "We are upgrading our investment rating on AXP shares to Market Perform, based on our belief that downside risk may be limited in the near term given substantially better-than-expected credit performance. Based on recent DQ and loss trends, we believe that AXP will be first among peers to return to a normalized credit environment, likely as early as next year. Additional favorable factors that influenced our rating change include (1) benefits from a weaker U.S. dollar given AXP's larger international exposure, (2) our belief that corporate spending and travel rebound will be sooner and more robust than general consumer spending, (3) more robust than rebound in spending by high-net-worth consumers versus general population, and (4) removal of overhang related to passage of interchange legislation (which we believe is unlikely)."
To see more analyst ratings on AXP Click Here.
American Express Company, a payments and travel company, provides charge and credit payment card products, and travel-related services worldwide.
Related Categories
UpgradesStocks Mentioned
-0.21Related Entities
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!
