Goldman Sachs Raises its Target & Estimates for American Express (AXP)

By Staff,

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Credit card issuer American Express Company ( AXP ) saw its price target and earnings estimates boosted on Monday by analysts at Goldman Sachs.

The firm said it now expects AXP shares, which had closed at $48.05 on Friday, to reach $50. Goldman also raised its earnings estimates for the company, citing strengthening credit and cost trends, while maintaining its "Neutral" rating.

American Express shares fell 45 cents, or -0.9%, in premarket trading Monday.

The Bottom Line
Shares of AXP have a 1.50% dividend yield, based on Friday's closing stock price of $48.05. The stock has technical support in the $42 price area. If the shares can firm up, we see overhead resistance around the $50-$51 price levels. We would remain on the sidelines for now.

American Express Company ( AXP ) is not recommended at this time, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: AXP

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