Wells Fargo added American Express (AXP) to the firm’s Q2 Tactical Ideas List. The firm sees a Q1 revenue/EPS beat, as the U.S. Platinum refresh drives incremental card spend and new accounts. Wells believes strong affluent spend will enable AI job loss fears to fade. Stock trades at 15 times price-to-earnings on 2027 EPS, which the firm finds attractive for a mid-teens EPS grower. Wells has an Overweight rating on the shares with a price target of $425.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AXP:
- American Express price target lowered to $330 from $375 at TD Cowen
- The Week That Was, The Week Ahead: Macro and Markets, Mar. 29
- American Express partners with STAUD for limited-edition collection
- American Express issues letter to shareholders
- American Express starts integrated solutions rollout for business of all sizes