American Express Price Target Raised to $63.00 at JPMorgan Chase (AXP)
American Express (NYSE: AXP) had its price target boosted by JPMorgan Chase to $63.00 in a research report released on Tuesday morning. JPMorgan Chase currently has an underweight rating on the stock.
“We view AXP to be in a challenging position in terms of regaining operating leverage, with obvious near-term hurdles looming (competitive pressures and slowing macroeconomic trends). We believe Y/Y spending comps will be increasingly tough, based on our thesis that confidence among higher end consumers is disproportionately at risk due to policy initiatives strongly favoring middle income consumers. While it takes time for the company to see results of new alternative payments initiatives, we see few near-term catalysts for the stock.,” JPMorgan Chase’s analyst commented.
American Express opened at 65.30 on Tuesday. American Express has a 52-week low of $53.02 and a 52-week high of $65.79. The stock’s 50-day moving average is currently $61.. The company has a market cap of $72.134 billion and a price-to-earnings ratio of 16.79.
AXP has been the subject of a number of other recent research reports. Analysts at Janney Montgomery Scott reiterated a neutral rating on shares of American Express in a research note to investors on Friday, March 8th. They now have a $64.00 price target on the stock. Separately, analysts at TheStreet reiterated a buy rating on shares of American Express in a research note to investors on Thursday, March 7th. Finally, analysts at Zacks reiterated a neutral rating on shares of American Express in a research note to investors on Wednesday, February 27th. They now have a $65.00 price target on the stock.
Twelve equities research analysts have rated the stock with a buy rating, fourteen have assigned a hold rating, and three have given a sell rating to the stock. American Express presently has an average rating of overweight and a consensus target price of $65.65.
American Express Company (American Express) is a global service company. Its principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses worldwide.
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