American Express' Mixed Q3 Results: Goldman Analyst Sees Silver Lining In Expense Management And NII Growth
Portfolio Pulse from Anusuya Lahiri
American Express (AXP) reported mixed Q3 results, with revenue slightly below expectations but EPS surpassing estimates. Despite a decline in discount revenues, net interest income and card fees showed growth. Goldman Sachs reiterated a Buy rating with a $300 price target. AXP stock fell 2.79% following the report.
October 18, 2024 | 5:09 pm
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American Express reported mixed Q3 results with revenue slightly below expectations but EPS exceeding estimates. Despite a decline in discount revenues, net interest income and card fees showed growth. Goldman Sachs reiterated a Buy rating with a $300 price target. AXP stock fell 2.79% following the report.
The mixed Q3 results for American Express, with revenue slightly below expectations but EPS exceeding estimates, led to a 2.79% drop in stock price. The reiteration of a Buy rating by Goldman Sachs with a $300 price target suggests a neutral short-term impact as the market digests the mixed signals.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100