American Express price target raised to $218 from $200 at Citi

Citi raised the firm’s price target on American Express to $218 from $200 and keeps a Neutral rating on the shares post the Q4 report. The company’s 2024 guidance shows continued momentum within the high-end customer base driving attractive top- and bottom-line growth, the analyst tells investors in a research note. While spending volume growth likely comes in below American Express’ long-term aspirations for 2024, other areas including card fees and net interest income should provide enough to drive strong top-line growth, says the firm. Citi keeps a Neutral rating on the shares saying the recent rally lowers the upside potential.