American Express Ticks Higher on AXP Upgrade

by Christopher Freeburn | February 6, 2014 10:19 am

American Express Ticks Higher on AXP Upgrade

American Express (AXP[1]) climbed almost 2% in Thursday morning trading after an investment firm raised its rating[2] for AXP stock.

AmericanExpress Card630 Flickr 300x196 American Express Ticks Higher on AXP Upgrade[3]
Source: Flickr[4]

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.

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[5], 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.

Endnotes:
  1. AXP: http://studio-5.financialcontent.com/investplace/quote?Symbol=AXP
  2. an investment firm raised its rating: http://seekingalpha.com/news/1553411-american-express-catches-janney-upgrade
  3. [Image]: http://investorplace.com/wp-content/uploads/2011/06/AmericanExpress_Card630_Flickr.jpg
  4. Flickr: http://www.flickr.com/photos/sharpimage/
  5. matching Wall Street forecasts: http://www.bloomberg.com/news/2014-01-16/amex-profit-doubles-misses-estimates-on-lawsuit-costs.html

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