DJ American Express Stock Sinks After BofA Analyst Suggests It's Time To Sell -- MarketWatch
Shares of American Express Co. (AXP) sank 2.1% in morning trading Wednesday, after BofA Securities analyst Mihir Bhatia turned bearish on the credit card and travel services company, citing concerns over billing volumes, particularly in airline and lodging. Bhatia lowered the rating on the stock to underperform, or the equivalent of sell, from neutral, and trimmed the price target to $95 from $106. "BofA Sector Analysts estimate it could be 2024 before spending volumes on airlines and lodging are at 2019 levels, and a full recovery is dependent on a vaccine being available and widely administered," Bhatia wrote in a note to clients. "We believe spending volume or billings is perhaps the most important metric for [American Express]," Bhatia added. The stock has dropped 22.5% year to date, while the Dow Jones Industrial Average has slipped 4.2%.
-Tomi Kilgore
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September 23, 2020 10:32 ET (14:32 GMT)
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DJ美國運通股票下沉，此前美國銀行分析師建議是時候拋售--MarketWatch
美國運通公司(American Express Co.)股價週三早盤下跌2.1%，此前美國銀行證券(BofA Securities)分析師米希爾·巴蒂亞(Mihir Bhatia)轉為看空這家信用卡和旅遊服務公司，理由是擔心賬單數量，特別是在航空和住宿方面。Bhatia將該股的評級從中性下調至表現不佳，或相當於賣出，並將目標價從106美元下調至95美元。Bhatia在給客户的一份報告中寫道：“美國銀行行業分析師估計，航空公司和住宿支出可能要到2024年才能達到2019年的水平，完全復甦取決於疫苗的可獲得性和廣泛管理。”“我們認為，消費額或賬單可能是最重要的衡量標準[美國運通]今年到目前為止，該股已經下跌了22.5%，而道瓊斯工業平均指數(Dow Jones Industrial Average)下跌了4.2%。
--托米·基爾戈(Tomi Kilgore)
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(完)道瓊斯通訊社
2020年9月23日美國東部時間10：32(格林尼治標準時間14：32)
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