News Formal

American Express can surge 22% as company sales remain strong, analyst says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Investors should buy shares of American Express as the credit card company's sales will keep growing at a fast pace thanks to a strong consumer, an analyst at Morgan Stanley said Thursday.

div > div.group > p:first-child"> Analyst Betsy Graseck upgraded American Express to overweight from equal weight. Graseck also hiked her price target on the stock to $140 per share from $123, implying a 22.8% upside from Monday's close."We believe the strong revenue growth story at AXP remains intact," said Graseck, noting she expects revenue to grow by 8% in 2019 and 10% in 2020. That's up from 7% in both years.

American Express posted a mixed quarterly report earlier this month. The Dow Jones Industrial Average member reported adjusted earnings per share that were above expectations, but its overall revenue disappointed analysts.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Purr muh Bull sheet

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook shares surge as Wall Street analysts rave over earnings: 'What a start to 2019'Wall Street was enamored Thursday morning with Facebook's first-quarter earnings report, with a handful of brokerages lauding its results. the biden effect What a 🐊 of 💩! These numbers need to be audited. Not their books mind you—Wall Street’s digital infrastructure 💋💋 A mesmerizing tale
Source: CNBC - 🏆 12. / 72 Read more »