American Express (AXP) Received its Third Buy in a Row


After Nomura and Wells Fargo gave American Express (NYSE: AXP) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Kenneth Bruce reiterated a Buy rating on American Express today and set a price target of $125. The company’s shares closed yesterday at $102.84.

Bruce has an average return of 14.3% when recommending American Express.

According to TipRanks.com, Bruce is ranked #4380 out of 4893 analysts.

Currently, the analyst consensus on American Express is a Strong Buy with an average price target of $123.88, representing a 20.5% upside. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $114 price target.

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Based on American Express’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.92 billion and net profit of $1.64 billion. In comparison, last year the company earned revenue of $9.01 billion and had a net profit of $1.35 billion.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. Last month, Marc D. Gordon, the CIO of AXP sold 25,948 shares for a total of $2,797,973.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

American Express Co. engages in the provision of charge and credit card products, and travel-related services. It operates through the following segments: Global Consumer Services Group (GCSG); Global Commercial Services (GCS); Global Merchant and Network Services (GMNS); and Corporate and Other.

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