American Express' 2024 Guidance Spurs Diverse Analyst Opinions - A Closer Look
Portfolio Pulse from Anusuya Lahiri
Analysts have diverse opinions on American Express Co (AXP) following its 2024 guidance, with price targets ranging from $159 to $226. UBS and BMO Capital raised their price targets but maintained Neutral and Underperform ratings, respectively. Oppenheimer, Baird, Citi, Barclays, and RBC Capital provided various outlooks, with some raising price targets and others maintaining ratings. Concerns include credit quality, valuation gap, and spending growth, while positives include revenue growth from loans and card fees, and potential for mid-teens EPS growth. AXP shares closed slightly lower at $200.86.
January 29, 2024 | 9:29 pm
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American Express received mixed analyst ratings and revised price targets following its 2024 guidance. Concerns about credit quality and spending growth are balanced by positive revenue and EPS growth expectations.
The diverse analyst opinions create uncertainty, which could lead to a neutral short-term impact on AXP's stock price. Positive guidance is offset by concerns over credit quality and spending growth, making it difficult to predict the direction of the stock price movement.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100