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Nomura Advises Selling American Express

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Nomura Advises Selling American Express

Nomura’s Bill Carcache recommends current shareholders of American Express Company (NYSE: AXP) take advantage of the recent Trump rally.

Carcache maintains a Reduce rating on the company, with a price target of $63.

Time To Reduce Position

The analyst believes that American Express shareholders should “opportunistically rotate out” into Discover Financial Services (NYSE: DFS) and Synchrony Financial (NYSE: SYF), given that both stocks are expected to outperform American Express over the next two years.

Carcache believes “AXP's expense levers give it a finite amount of time, but we expect the degradation in the efficacy of its investment spending to persist and don't expect the market to wait until AXP's expense leverage is gone to de-rate shares.”

The analyst continued his cautious stance on the company despite the estimates being in line with the consensus expectations.

At Last Check

Latest Ratings for AXP

DateFirmActionFromTo
Feb 2022Daiwa CapitalUpgradesHoldBuy
Feb 2022Morgan StanleyMaintainsOverweight
Jan 2022Deutsche BankMaintainsBuy

View More Analyst Ratings for AXP

View the Latest Analyst Ratings

 

Related Articles (AXP + DFS)

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