American Express price target raised to $257 from $250 at Barclays

Barclays raised the firm’s price target on American Express (AXP) to $257 from $250 and keeps an Equal Weight rating on the shares post the Q3 report. American Express guided to the low end of its initial revenue growth guide of 9%-11% for fiscal 2024, and indicated that it may need to see a rebound in spend going forward to attain its 10% and aspirational target, the analyst tells investors in a research note. That said, the company’s mid-teens earnings growth continues to look achievable given the flexibility of the business model, adds the firm.