Market Overview

UPDATE: Goldman Sachs Downgrades American Express to Neutral on Limited Upside

Share:
Related AXP
5 Biggest Price Target Changes For Tuesday
Visa Versus American Express: Which Stock Is More Lucrative?
Warren Buffett's 5 Highest-Quality Companies (GuruFocus)

Goldman Sachs downgraded American Express (NYSE: AXP) from Buy to Neutral and maintained a $65.00 price target.

Goldman Sachs commented, "We downgrade AXP to Neutral from Buy; our price target remains $65. We see limited upside to out-year estimates (consensus of $4.75 in 2013E) without further expense cuts (beyond current restructuring). While fee income initiatives help and its multiple could re-rate, history tells us AXP needs 9-10% revenue growth to see multiple expansion, which we view as unlikely in 2013."

American Express closed at $61.24 on Friday.

Latest Ratings for AXP

DateFirmActionFromTo
Apr 2017NomuraUpgradesReduceNeutral
Apr 2017GuggenheimUpgradesNeutralBuy
Mar 2017Tigress FinancialInitiates Coverage OnNeutral

View More Analyst Ratings for AXP
View the Latest Analyst Ratings

Posted-In: Goldman SachAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (AXP)

View Comments and Join the Discussion!