Monness analyst Gustavo Gala maintains $American Express (AXP.US)$ with a buy rating, and maintains the target price at $300.
According to TipRanks data, the analyst has a success rate of 54.5% and a total average return of 5.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $American Express (AXP.US)$'s main analysts recently are as follows:
The 2024 EPS projections for American Express have been raised due to improved expense management and credit metrics; however, revenue growth forecasts have been adjusted to the lower end of the previously estimated 9%-11% range because billing growth remains at 6%. It may be challenging for the company to achieve its long-term goal of over 10% revenue growth without an increase in card spending, with expectations of 8%-9% growth in the years 2025-26.
Following the Q3 report, American Express has projected potential revenue growth at the lower spectrum of its initial 9%-11% forecast for fiscal 2024. The company anticipates a need for a resurgence in spending to reach its ambitious 10% target. Despite this, the attainability of mid-teens earnings growth appears feasible due to the adaptable nature of the company's business model.
Following the release of American Express's Q3 report, which displayed a slight deviation from the expected revenue due to a dip in discount revenue counterbalanced by an increase in net interest income, the analyst has updated their model.
Note:
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