CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target price by $65 to $270, applying a forward P/E of 18.8x our 2025 earnings estimate, a wider risk premium than the peer average of 7.1x given more consistent earnings performance, lower credit risk, and superior growth prospects. We raise our 2024 EPS estimate by $0.24 to $12.98 and start 2025’s at $14.40. AXP reported Q4 EPS of $2.62 vs. $2.07 a year ago, a $0.03 earnings miss. Although some may fixate on slowing spending trends (discount revenue +5% Y/Y vs. 7% in Q3), we believe this quarter highlighted AXP’s diversified business model, which can outperform in a variety of scenarios. Leading the charge this quarter was net interest income, which surged 31% higher on 13% loan growth. Additionally, net card fees (+17%) […]

By Emily Bary American Express write-off rate ticked higher in latest quarter but remained below what competitors posted American Express Co. saw net write-offs increase slightly in the latest quarter relative to a year before, but the company on Friday still came in ahead of Wall Street expectations with its financial forecasts for 2024. Shares were rocketing 8.7% in morning trading Friday and on pace for their largest single-day percentage gain since they rose 10.5% after the company’s fourth-quarter report a year ago. The stock, which recently changed hands at $204.07, is also tracking toward a new all-time high. That would mark its first record close since Feb. 16, 2022, when it finished at $198.38, according to Dow Jones Market Data. Total revenue net of interest expense came in at $15.8 billion, up 11% from the $14.2 billion that Amex (AXP) reported a year prior. Analysts had been looking for

American Express (AXP) shares rose more than 7% in recent Friday trading after the company reported Q4 earnings of $2.62 per diluted share, up from $2.07 a year earlier. Analysts surveyed by Capital IQ expected $2.63. Revenue for the quarter ended Dec. 31 was $15.8 billion, up from $14.18 billion a year earlier. Analysts polled by Capital IQ expected $15.95 billion. The company said it expects full-year 2024 earnings of $12.65 to $13.15 per share, with revenue growth of 9% to 11%. Analysts surveyed by Capital IQ expect EPS of $12.32 on revenue of $66.21 billion. Price: 201.74, Change: +13.67, Percent Change: +7.27

The following is a summary of the American Express Company (AXP) Q4 2023 Earnings Call Transcript: Financial Performance: American Express reported a record annual revenue of $61 billion in 2023, marking a 15% increase on an FX adjusted basis. The company achieved a record net income of over $8 billion with an EPS of $11.21. The Q4 2023 results saw revenues reaching nearly $16 billion and an EPS of $2.62. Projected annual revenue growth for 2024 is between 9% and 11% with a full-year EPS expected to be between $12.65 and $13.15. The quarterly dividend will increase from $0.60 to $0.70 a share starting Q1 2024. Full-year revenues stood at $60.5 billion, up 15% on an FX adjusted basis. Fourth quarter revenues were at $15.8 billion, reflecting an 11% YoY increase. The company returned $5.3 billion of capital to shareholders in 2023 and plans to continue investing in the balance