Fintel reports that on September 5, 2023, RBC Capital upgraded their outlook for American Express (NYSE:AXP) from Sector Perform to Outperform.

Analyst Price Forecast Suggests 15.86% Upside

As of August 31, 2023, the average one-year price target for American Express is 184.93. The forecasts range from a low of 126.25 to a high of $231.00. The average price target represents an increase of 15.86% from its latest reported closing price of 159.62.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for American Express is 59,192MM, an increase of 11.66%. The projected annual non-GAAP EPS is 10.65.

What is the Fund Sentiment?

There are 3097 funds or institutions reporting positions in American Express. This is a decrease of 49 owner(s) or 1.56% in the last quarter. Average portfolio weight of all funds dedicated to AXP is 0.51%, a decrease of 1.25%. Total shares owned by institutions decreased in the last three months by 0.85% to 678,772K shares. The put/call ratio of AXP is 1.42, indicating a bearish outlook.

What are Other Shareholders Doing?

Berkshire Hathaway holds 151,611K shares representing 20.60% ownership of the company. No change in the last quarter.

Wellington Management Group Llp holds 23,134K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 22,001K shares, representing an increase of 4.90%. The firm increased its portfolio allocation in AXP by 5.97% over the last quarter.

Jpmorgan Chase holds 18,069K shares representing 2.46% ownership of the company. In it’s prior filing, the firm reported owning 16,336K shares, representing an increase of 9.59%. The firm increased its portfolio allocation in AXP by 729.81% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 17,371K shares representing 2.36% ownership of the company. In it’s prior filing, the firm reported owning 17,274K shares, representing an increase of 0.56%. The firm decreased its portfolio allocation in AXP by 2.02% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 14,157K shares representing 1.92% ownership of the company. In it’s prior filing, the firm reported owning 13,892K shares, representing an increase of 1.87%. The firm decreased its portfolio allocation in AXP by 2.52% over the last quarter.

American Express Background Information
(This description is provided by the company.)

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.

This article originally appeared on Fintel

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