1. Home
  2. Earnings Miss
  3. American Express’ Q1 Wins Keep Analysts Steady In Their Views

American Express’ Q1 Wins Keep Analysts Steady In Their Views

1
0

American Express Company (NYSE:AXP) reported its first-quarter results, with 6% year-on-year card member spending growth.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

BMO Capital Markets On American Express

Analyst James Fotheringham reiterated an Underperform rating, while raising the price target from $167 to $175.

American Express delivered a “broad-based beat” in the first quarter, with earnings of $3.08 per share topping consensus of $2.96 per share, Fotheringham said in a note. He added that lower-than-expected non-interest income “was more than offset by higher NII (+4% beat on faster loan growth), lower costs, and lower provisions.”

Management reiterated their full-year guidance, despite the first-quarter beat, which implies, a “3% downside to rest-of-year EPS at the mid-point (all else equal),” the analyst stated.

Barclays On American Express

Analyst Terry Ma maintained …

Full story available on Benzinga.com

Visited 1 times, 1 visit(s) today