Analysts Boost American Express Targets After Strong Q1

Overview

• American Express beat first-quarter expectations with $18.9 billion in revenue and $4.28 in diluted EPS and kept its full-year outlook.
• Goldman Sachs raised its price target to $400 and Bank of America lifted its target to $387, with both firms reiterating Buy ratings.
• The company reported strong engagement with its refreshed Platinum card, a key product for high-spend customers.
• Credit health remained solid, with U.S. 30-day delinquencies at 1.3%, below the long-term average reported in coverage.
• Shareholder returns stayed robust with $5.95 billion in stock buybacks over the past year, even as some investors debate valuation after a year-to-date slide.