Barclays Reiterates an 'Overweight' on American Express (AXP); Q1 Preview: Expense Leverage Should Shine
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Price: $342.48 -0.34%
Rating Summary:
23 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays reiterates an 'Overweight' on American Express (NYSE: AXP) price target raised from $60 to $70.
Analyst, Mark C. DeVries, said, "When AXP reports 1Q12 results on April 18, we expect EPS of $1.03, compared to consensus of $1.00. Overall, we are focused on three key issues for the stock: 1) pace of revenue and billed business growth following the modest slowdown in 4Q11; 2) expense management, particularly in rewards, and because AXP will no longer have the $70M Visa settlement payment; 3) reserve releases as NCOs appear to have bottomed near current levels."
Barclays raises FY12 EPS estimate from $4.40 to $4.45 and FY13 from $4.90 to $4.95.
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 $56.18 yesterday.
Analyst, Mark C. DeVries, said, "When AXP reports 1Q12 results on April 18, we expect EPS of $1.03, compared to consensus of $1.00. Overall, we are focused on three key issues for the stock: 1) pace of revenue and billed business growth following the modest slowdown in 4Q11; 2) expense management, particularly in rewards, and because AXP will no longer have the $70M Visa settlement payment; 3) reserve releases as NCOs appear to have bottomed near current levels."
Barclays raises FY12 EPS estimate from $4.40 to $4.45 and FY13 from $4.90 to $4.95.
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 $56.18 yesterday.
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