BMO Capital Reiterates Underperform Rating on American Express (AXP)

BMO Capital analyst James Fotheringham reiterated an Underperform rating and $176.00 price target on American Express (NYSE: AXP).

The analyst commented, "Following AXP's 2Q24 small cost beat, we raise near-term estimates by +2%; lower credit and operating costs more than offset lower NII. Our out-year estimates are essentially unchanged. AXP's network growth is moderating, led by big-
ticket spending categories like airlines and lodging. Our $176 target price (unchanged) is predicated on 4.1x two-year-forward TCE (product of 36% estimated RoTCE and 11x target P/E)."

For an analyst ratings summary and ratings history on American Express click here. For more ratings news on American Express click here.

Shares of American Express closed at $244.75 yesterday.

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