KBW Sticks with $371 PT for American Express (AXP)

American Express Company (NYSE:AXP) is one of the best Goldman Sachs bank stocks. On September 19, KBW reiterated an Outperform rating on AXP, along with a price target of $371, attributing the call to the new features in the Platinum card.

According to KBW, the improved perks make the Platinum card’s value proposition stronger than the $200 fee hike, reinforcing its premium status. The firm noted American Express Company (NYSE:AXP)’s collaborations with Lululemon, Uber, and Walmart also strengthen the cardholder value proposition.

KBW Sticks with $371 PT for American Express (AXP)

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The firm observed that the impact on earnings will phase in, given AXP’s practice of amortizing annual fees across a year. KBW believes the new features will aid both sign-ups and renewals, setting the stage for stronger performance in the coming quarters.

American Express Company (NYSE:AXP) is a global financial company that offers credit and charge cards, banking, travel, lifestyle, and expense management services, along with fraud prevention and loyalty programs.

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