American Express Ticks Higher on AXP Upgrade

An improving economy could lift its revenues


American Express (AXP) climbed almost 2% in Thursday morning trading after an investment firm raised its rating for AXP stock.

AmericanExpress Card630 Flickr 300x196 American Express Ticks Higher on AXP Upgrade
Source: Flickr

AXP stock was upgraded from a rating of “Neutral” to a rating of “Buy” by analysts at Janney Capital Markets. The upgrade came as improving economic activity has prompted rising estimates for AXP revenue growth, Seeking Alpha notes.

AmericanExpress185 American Express Ticks Higher on AXP Upgrade
AXP Earnings – Is American Express Optimism Overdone?

During the fourth-quarter, AXP posted a profit of $1.31 billion, up from $637 million in the year-ago period. Adjusted EPS came in at $1.25 a share, matching Wall Street forecasts, according to Bloomberg.

AXP reported quarterly revenue of $8.55 billion, up 5% from the prior-year quarter.

AXP stock has gained more than 35% over the past twelve months. AXP stock closed at $83.72 a share on Wednesday.

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