Nomura Securities Lifts Estimates/PT on American Express (AXP)
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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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Nomura Securities reiterated its Buy rating and raised its price target on American Express (NYSE: AXP) from $73 to $89.
Analyst Bill Carcache comments, "AXP shares lost their luster during the crisis but are now shining once again. Like the net worth of its affluent customers, the shares continue to hit new all-time highs. We expect AXP’s strong performance to continue as we look ahead. Our confidence is rooted in expense actions that are bearing fruit, fee-based revenue streams that are set to scale, and strong core business trends that appear likely to persist. We think consensus still underestimates AXP’s ability to control expenses. We’re raising our price target to $89, which is based on 16x our above-consensus 2014 EPS estimate of $5.59."
The firm raised FY 2013 EPS estimates from $4.79 to $4.92 and FY 2014 EPS from $5.33 to $5.59.
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 $75.83 yesterday.
Analyst Bill Carcache comments, "AXP shares lost their luster during the crisis but are now shining once again. Like the net worth of its affluent customers, the shares continue to hit new all-time highs. We expect AXP’s strong performance to continue as we look ahead. Our confidence is rooted in expense actions that are bearing fruit, fee-based revenue streams that are set to scale, and strong core business trends that appear likely to persist. We think consensus still underestimates AXP’s ability to control expenses. We’re raising our price target to $89, which is based on 16x our above-consensus 2014 EPS estimate of $5.59."
The firm raised FY 2013 EPS estimates from $4.79 to $4.92 and FY 2014 EPS from $5.33 to $5.59.
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 $75.83 yesterday.
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