These Analysts Revise Their Forecasts On American Express After Q3 Results

American Express Co (NYSE:AXP) on Friday released mixed results for the third quarter.

The company posted adjusted earnings of $4.68 per share, beating market estimates of $4.48 per share. The company’s sales came in at $20.062 billion, missing expectations of $20.122 billion.

American Express maintained its full-year revenue outlook of approximately $79.45 billion, representing about 10% annual growth. That forecast remains slightly below the analyst consensus estimate of $79.48 billion.

The company raised the lower end of its full-year earnings guidance to $17.60 per share from $17.30. The upper end remained unchanged at $17.90. The revised range compared with previous guidance of $17.30 to $17.90 per share and Wall Street’s estimate of $17.63.

American Express shares rose 0.5% to trade at $314.44 on Monday.

These analysts made changes to their price targets on American Express following earnings announcement.

• Barclays analyst Terry Ma maintained the stock with an Equal-Weight rating and lowered the price target from $342 to $340.
• JP Morgan analyst Richard Shane maintained the stock with an Overweight rating and raised the price target from $360 to $365.

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