BofA Securities Reiterates Underperform Rating on American Express (AXP) As Expense Structure Overshadows Provision Driven Beat

January 27, 2021 7:34 AM EST
Get Alerts AXP Hot Sheet
Price: $148.53 +0.75%

Rating Summary:
    16 Buy, 20 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 7 | New: 33
Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

BofA Securities analyst Kenneth Bruce reiterated an Underperform rating and $113.00 price target on American Express (NYSE: AXP) after the company reported 4Q20 EPS of $1.76, ahead of Consensus of $1.31 driven by lower provision expense (reserve release) and somewhat offset by higher OpEx.

The analyst stated "While credit results were solid, we sense the Street will be disappointed with the OpEx miss and AXP’s in-line ‘21/’22 guidance. We expect both to be in focus on the earnings call later this morning. While AXP is a ‘reopening beneficiary’ we continue to have a more cautious outlook on the pace of the recovery vs. consensus. Maintain Underperform".

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 $114.50 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View

Related Entities