- via Bloomberg
- A middle-of-the-roader on the stock, Morgan Stanley (NYSE:MS)'s Betsy Graseck acknowledges improving revenue growth, but says American Express (NYSE:AXP) will likely need to continue paying for that growth with another boost in promotional offerings next year. She lifts her price target to $85 from $83.
- Nomura's Bill Carcache reiterates his Reduce rating and $63 price target. The stock should do well today, but he figures at least some of the beat was driven by non-recurring items like record Q4 investment spending, and unsustainable cuts in marketing and promotion.
- Another bear on the name, RBC's Jason Arnold says not to forget the boost to Q1 provided by a lower tax rate. Heated competition means marketing/rewards expense pressure isn't going anywhere. He lifts his PT to $63 from $60.
- A bull on AmEx, Bernstein's Kevin St. Pierre says robust adjusted revenue growth bolsters his case, with 12%-plus EPS growth doable beyond this year. He lifts his PT to a Street-high $95.
- Shares +2.3% premarket to $77.29.
- Previously: AmEx rises 2.2% after earnings beat (April 19)
- Now read: American Express Company 2017 Q1 - Results - Earnings Call Slides
Original article