BofA Securities Reiterates Buy Rating on American Express (AXP) amid Robinhood Platinum Card announcement

BofA Securities analyst Mihir Bhatia reiterated a Buy rating and $420.00 price target on American Express (NYSE: AXP)

The analyst commented, "American Express (Amex) shares could be pressured today following Robinhood’s (HOOD, covered by BofA Global Research’s Craig Siegenthaler) announcement of a Platinum Card with a $695 annual fee. While additional competition is an incremental negative, we think American Express remains well positioned in the super-premium card market given its scale, brand, and customer service. We also note that the US super-premium card market is already one of the most competitive in the world, and Amex has been executing nearly flawlessly over the past few years. The US Platinum refresh implemented last year has gone better than expected by most accounts, and the company continues to garner high marks in customer surveys (see the report, 2025 U.S. Premium credit card survey insights 11 June 2025). We maintain our Buy rating."

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 $311.21 yesterday.

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