American Express Company (AXP)
Pre-market:
- Motley Fool
Why American Express Jumped 18% in January
Shares of consumer finance giant American Express (NYSE: AXP) soared 18% in January, according to data from S&P Global Market Intelligence. Rising interest rates in particular are affecting financial companies. In the 2022 fourth quarter, revenue increased 17% over last year, and billed volume increased 12%.
- Motley Fool
1 of Warren Buffett's Favorite Stocks Just Provided Stellar Guidance for 2023
Despite widespread fears that a recession is coming, American Express management is more optimistic about the year ahead than analysts expected.
- Motley Fool
American Express Stock: Headed to $210?
Management's rosy forecast is for double-digit percentage revenue growth this year, building on the 25% top-line growth the company achieved in 2022. In addition, management soothed investors' concerns about how the company is faring during this uncertain macroeconomic environment, noting that it wasn't seeing signs of a recession from its customer base. The most bullish of these analysts, Stephen Biggar at Argus Research, raised his price target on the stock from $180 to $210.
