Goldman Sachs Resumes American Express (AXP) at Buy

Goldman Sachs resumes coverage on American Express (NYSE: AXP) with a Buy rating and $59 price target, suggesting 16% upside, citing underappreciated operating and capital leverage.

The analyst commented, "In our view, the market is under-appreciating the return capabilities at AXP, which would be driven by operating leverage and excess capital. Given its spend-centric business mix, we expect continued top-line growth to be aided by further spending by high-end consumers and growth in its international franchise."

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 $51.82 yesterday.

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