American Express Company (AXP) saw its rating downgraded on Monday by Goldman Sachs as analysts see limited upside for the financial services company in a challenging revenue environment.
The analysts downgraded AXP from “Buy” to “Neutral” and maintained a price target of $65. That target suggests a 6% upside to Friday’s closing price of $61.24.
Goldman Sachs believes American Express should be helped by fee revenue growth and international expansion, but those factors are already calculated in current estimates. Otherwise, there is limited upside to current outlook.
American Express shares were down 52 cents, or -0.85%, during premarket trading on Monday. The stock is up +23.07% over the past year.
The Bottom Line
Shares of American Express (AXP) have a 1.31% dividend yield, based on Friday’s closing stock price of $61.24. The stock has technical support in the $56 price area. The stock is approaching the all-time high range of $64-$65 a share.
American Express Company (AXP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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