American Express (AXP – Research Report), the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Mike Mayo from Wells Fargo reiterated a Buy rating on the stock and has a $350.00 price target.
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Mike Mayo has given his Buy rating due to a combination of factors including American Express’s strong revenue growth and positive trends in card spending. The company’s Q2 revenue growth is projected to be slightly above consensus, and its earnings per share estimates for 2026 and 2027 have been raised, reflecting better spending and credit conditions. Additionally, American Express’s leadership in the premium and small-to-medium enterprise markets is expected to continue, bolstered by planned product refreshes.
Moreover, American Express’s credit performance remains robust, with delinquency and net charge-off rates below industry averages. The company’s consumer and small business loan growth, while slightly below previous months, still outperforms expectations. Investor sentiment in consumer finance is generally positive, and American Express is anticipated to maintain its revenue growth guidance, making it a top pick for continued stock appreciation through 2025.
In another report released on June 18, Bank of America Securities also maintained a Buy rating on the stock with a $318.00 price target.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AXP in relation to earlier this year.