Barclays Maintains an 'Overweight' on American Express (AXP); 3Q11 Preview
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Price: $336.00 +1.46%
Rating Summary:
23 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on American Express (NYSE: AXP) price target of $60.00.
Barclays analyst says, "When AXP reports 3Q11 results on October 19, we expect EPS of $1.01 compared to consensus of $0.96. Overall, we believe AXP could show better-than-expected expense trends, particularly in rewards, and we expect continued robust billed business growth, which AXP demonstrated through the first two months of the quarter based on our estimates (see Figure 2). Despite the slowing economic recovery, it does not appear that high-end consumer or commercial spend have slowed, though both certainly bear monitoring in the event of further economic weakening. With the stock trading at just under 11x our 2012 EPS estimate of $4.40 (a slight discount to the S&P 500 compared to AXP's historical premium), 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 $47.03 yesterday.
Barclays analyst says, "When AXP reports 3Q11 results on October 19, we expect EPS of $1.01 compared to consensus of $0.96. Overall, we believe AXP could show better-than-expected expense trends, particularly in rewards, and we expect continued robust billed business growth, which AXP demonstrated through the first two months of the quarter based on our estimates (see Figure 2). Despite the slowing economic recovery, it does not appear that high-end consumer or commercial spend have slowed, though both certainly bear monitoring in the event of further economic weakening. With the stock trading at just under 11x our 2012 EPS estimate of $4.40 (a slight discount to the S&P 500 compared to AXP's historical premium), 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 $47.03 yesterday.
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