William Blair analyst Christopher Kennedy has reiterated their bullish stance on AXP stock, giving a Buy rating on October 20.
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Christopher Kennedy has given his Buy rating due to a combination of factors that highlight American Express’s strong market position and growth potential. The company has demonstrated leadership in the premium card market, with management committed to sustainable earnings growth. American Express’s shares are trading at a discount compared to the S&P 500, despite its above-market growth and strong return on equity, which has consistently outperformed the market average.
Under the leadership of CEO Steve Squeri, American Express has focused on premium consumers and small to medium-sized enterprises, enhancing its acceptance network and value proposition. The recent refresh of the U.S. Platinum Card has been a significant investment, leading to increased customer engagement and doubling account acquisitions. These strategic initiatives are expected to drive shareholder value, with anticipated earnings growth supported by resource reallocation from marketing and technology expenses.
In another report released on October 20, Truist Financial also maintained a Buy rating on the stock with a $395.00 price target.