Street View: Wealthy customer base continues to shield AmEx

Morningstar

24/04/2026 13:01

** Credit card giant American Express AXP.N beat Wall Street’s Q1 profit forecasts on Thursday, driven by a surge in travel and entertainment spending by wealthy customers that pushed card spending growth to a three-year high

** Median PT of 32 brokerages covering the stock is $360 - LSEG-compiled data

PREMIUM PUSH CONTINUES

** Morningstar (fair value: $310) expects double-digit card fee income growth, driven by strong premium card growth and recent price hikes

** RBC Capital Markets ("outperform," PT: $415) says co has been effective in refreshing products and attracting customers to premium fee‑paying offerings and expects the Platinum Card refresh to continue driving growth

** William Blair ("outperform") says AmEx leads the premium card market and has several growth drivers that support its goals of at least 10% revenue growth and mid‑teens EPS growth in a non‑recessionary environment

** BTIG ("sell," PT: $285) says heightened competition across consumer and commercial segments, along with a lack of differentiated products, will continue to pressure revenue growth

 (Reporting by Kanishka Ajmera in Bengaluru)

 ((Kanishka.Ajmera@thomsonreuters.com))