Seaport Global analyst Bill Ryan maintains $American Express (AXP.US)$ with a hold rating.
According to TipRanks data, the analyst has a success rate of 58.8% and a total average return of 3.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $American Express (AXP.US)$'s main analysts recently are as follows:
The 2024 earnings per share (EPS) forecast for American Express has been increased based on improved expense management and credit conditions. However, revenue growth expectations have been adjusted to the lower end of the previously estimated 9%-11% range because billing growth remains at approximately 6%. Achieving the long-term goal of over 10% revenue growth may prove challenging unless there's a significant increase in card spending, with projections suggesting a growth of 8%-9% in the years 2025-26.
Following the Q3 report, it was noted that American Express remains on track to potentially achieve the lower end of its initial revenue growth forecast of 9%-11% for fiscal 2024. The company anticipates the necessity for a rebound in spending to reach its 10% target. Despite these challenges, the company's prospects for mid-teens earnings growth appear attainable, supported by the adaptability of its business model.
Following the Q3 report from American Express, which indicated that revenue was marginally below consensus due to softer discount revenue, albeit partially counterbalanced by an increase in net interest income, the firm has revised its model.
Note:
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