BofA Securities Reiterates Underperform Rating on American Express (AXP) As Expense Structure Overshadows Provision Driven Beat
Get Alerts AXP Hot Sheet
Rating Summary:
19 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 5
Join SI Premium – FREE
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 StreetInsider.com Premium Free!
You May Also Be Interested In
- Synchrony Financial (SYF) PT Raised to $47 at RBC Capital
- Owens Corning (OC) PT Raised to $192 at RBC Capital
- Boston Scientific (BSX) PT Raised to $84 at Baird
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!