Citigroup Analyst Sees Limited Near-Term Upside For American Express Despite Positive Long-Term Outlook - Here's Why
Portfolio Pulse from Anusuya Lahiri
Citigroup analyst Keith Horowitz initiated coverage on American Express (AXP) with a Neutral rating and a $250 price target, citing limited near-term upside despite a positive long-term outlook. AXP shares are trading lower by 2.78% at $225.98. EBay (EBAY) plans to stop using American Express cards due to high fees.
June 11, 2024 | 6:45 pm
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Citigroup analyst Keith Horowitz initiated coverage on American Express with a Neutral rating and a $250 price target, citing limited near-term upside despite a positive long-term outlook. AXP shares are trading lower by 2.78% at $225.98.
The Neutral rating and high valuation multiple suggest limited near-term upside, leading to a negative short-term impact on AXP's stock price. The stock is already trading lower by 2.78%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
EBay plans to stop using American Express cards on its platform due to high fees, which could impact American Express's revenue from this partnership.
While EBay's decision to drop American Express cards could impact AXP's revenue, the direct impact on EBAY's stock price is less clear, leading to a neutral short-term impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50