In a report released yesterday, Dominick Gabriele from Oppenheimer assigned a Buy rating to American Express (AXP), with a price target of $100.00. The company’s shares closed last Friday at $95.33.
According to TipRanks.com, Gabriele is a 1-star analyst with an average return of -1.9% and a 50.8% success rate. Gabriele covers the Financial sector, focusing on stocks such as Discover Financial Services, Capital One Financial, and Synchrony Financial.
American Express has an analyst consensus of Hold, with a price target consensus of $102.13, implying a 7.2% upside from current levels. In a report issued on July 14, Nomura also maintained a Buy rating on the stock with a $119.00 price target.
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Based on American Express’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.46 billion and net profit of $367 million. In comparison, last year the company earned revenue of $7.36 billion and had a net profit of $1.55 billion.
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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, Global Commercial Services, Global Merchant and Network Services and Corporate & Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally. The Global Commercial Services segment provides proprietary corporate and small business cards, payment and expense management services, and commercial financing products. The Global Merchant and Network Services segment operates a global payments network that processes and settles card transactions, acquires merchants, and provides multi-channel marketing programs and capabilities, services, and data analytics. The Corporate & Other segment covers corporate functions and certain other businesses and operations. The company was founded by Henry Wells, William G. Fargo and John Warren Butterfield on March 28, 1850 and is headquartered in New York, NY.
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