Key Takeaways:
- Bank of America upgrades American Express (AXP, Financial) to "buy," noting strong customer base despite economic headwinds.
- Average analyst price target suggests a 17.93% upside, with varied opinions on potential high and low estimates.
- GuruFocus estimates indicate a moderate upside based on historical trading multiples and growth forecasts.
Bank of America has recently upgraded American Express (AXP) to a "buy" rating, although it has lowered its price target from $325 to $274. This adjustment comes amidst expectations of reduced consumer spending. Nevertheless, analysts remain confident that American Express's reliable customer base will continue to support its earnings, even as GDP growth decelerates. Notably, AXP shares have fallen 15% in 2023, presenting a potential buying opportunity for investors.
Wall Street Analysts' Forecast
Currently, 26 analysts have provided one-year price targets for American Express Co (AXP, Financial), with an average target price of $296.15. Estimates range from a high of $371.00 to a low of $230.00, suggesting a potential upside of 17.93% from the current price of $251.13. For a more detailed breakdown of estimates, visit the American Express Co (AXP) Forecast page.
Additionally, consensus from 31 brokerage firms places American Express Co's (AXP, Financial) average recommendation at 2.6, indicating a "Hold" status. The brokerage rating scale spans from 1 to 5, where 1 represents a Strong Buy and 5 indicates Sell. This consensus reflects a cautious optimism toward the stock.
GuruFocus Value Estimation
According to GuruFocus estimates, the projected GF Value for American Express Co (AXP, Financial) in one year stands at $267.86. This figure suggests a possible 6.66% upside from the current trading price of $251.13. The GF Value is a critical metric that assesses the stock's fair value based on historical trading multiples, business growth, and future performance forecasts. For comprehensive data, explore the American Express Co (AXP) Summary page.
In conclusion, with its robust customer base and strategic market position, American Express remains a stock worth watching, especially as analysts see potential for recovery and growth in the face of economic pressures.
