AXP - American Express Stock: Headed to $226?
2024-01-31 09:03:00 ET
Many analysts rushed to upgrade their 12-month price targets following American Express ' (NYSE: AXP) fourth-quarter update last week. Interestingly, this incremental bullishness from Wall Street comes even as the company's top-line growth decelerates.
So, what is there to love about the report? RBC Capital analyst Jon Arfstrom, who increased his 12-month price target on shares from $220 to $226 after the report, breaks down the bull case: It boils down to better-than-expected expense management, a steady normalization of delinquency rates, and good momentum across several key business metrics.
Let's explore these ideas further to see if Arfstrom is onto something.
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American Express Stock: Headed to $226?