Barclays Reiterates an 'Overweight' on American Express (AXP); April Trust Data: Credit Trends Still Positive; Spend Growth Accelerates

Barclays reiterates an 'Overweight' on American Express (NYSE: AXP), PT $55.

Barclays analyst says, "AXP reported April credit data that revealed still improving credit, with healthy loan growth and impressive spend trends. Both the managed and trust credit data were in-line with our estimates. With credit costs already at normalized levels, we believe investor focus has primarily shifted towards spend and balance sheet growth, which were both strong in April. Trading at only 11.5x our 2012 EPS estimate, we reiterate our rating."

For more ratings news on American Express click here and for the rating history of American Express click here.

Shares of American Express closed at $50.07 yesterday.

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