Market Overview

UPDATE: JP Morgan Raises PT to $63 on American Express on Near-Term Headwinds

Related AXP
American Express Conference Call Highlights
Dow's Losing Streak Now Stands At 6 Days, S&P 500 And Nasdaq Slightly Positive
Tech Rewind: A Mixed Bag of Earnings (Fox Business)

JP Morgan maintained American Express (NYSE: AXP) with an Underweight rating and raised the price target from $61.00 to $63.00.

JP Morgan analyst Richard Shane commented, "We view AXP to be in a challenging position in terms of regaining operating leverage, with obvious near-term hurdles looming (competitive pressures and slowing macroeconomic trends). We believe Y/Y spending comps will be increasingly tough, based on our thesis that confidence among higher end consumers is disproportionately at risk due to policy initiatives strongly favoring middle income consumers. While it takes time for the company to see results of new alternative payments initiatives, we see few near-term catalysts for the stock."

American Express closed at $65.50 on Monday.

Latest Ratings for AXP

DateFirmActionFromTo
Oct 2014JP MorganUpgradesUnderperformNeutral
Jul 2014MacquarieMaintainsUnderperform
Jul 2014JP MorganMaintainsUnderweight

View More Analyst Ratings for AXP
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (AXP)

Around the Web, We're Loving...

Get Benzinga's Newsletters