EBAY - Citigroup Analyst Sees Limited Near-Term Upside For American Express Despite Positive Long-Term Outlook - Here's Why | Benzinga
Citigroup analyst Keith Horowitz initiated coverage on American Express Co (NYSE:AXP) Monday with a Neutral rating and a price target of $250.
American Express has the tenets of an attractive long-term core holding given the combination of an attractive business model in a growth market led by a strong management team, Horowitz said.
But from a tactical perspective, the analyst did not see outsized near-term upside to warrant a Buy rating, as he noted that the valuation multiple has been set fairly high. The stock ...