American Express Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

As we approach the final quarter of the year, investors are eagerly awaiting the performance of American Express (AXP), the global financial institution known for its payment products and services. With a market capitalization exceeding industry standards and a positive revenue trend, American Express has been a subject of interest for analysts and investors alike. In this article, we will delve into the recent forecast changes from Wall Street's most accurate analysts, providing insights into their expectations for American Express's Q4 performance and future growth prospects.



Analyst Price Target Revisions

Analysts have recently revised their price targets for American Express, reflecting their confidence in the company's Q4 performance and future growth prospects. Some notable revisions include:

* BofA Securities downgraded American Express to 'Neutral' from 'Buy' on August 21, 2024, but maintained their price target at $263. This suggests that while they are less bullish on the stock, they still see potential in the company's performance.
* Evercore ISI adjusted their price target on American Express to $275 from $255 on August 1, 2024, indicating an increased confidence in the company's future prospects.
* Autonomous Research adjusted their price target on American Express to $252 from $253 on July 25, 2024, showing a slight increase in their confidence.
* President Capital adjusted their price target on American Express to $274 from $260 on July 23, 2024, reflecting a higher expectation for the company's performance.



Analyst Ratings and Consensus

The average analyst rating for American Express from 23 stock analysts is "Hold," indicating that analysts believe this stock is likely to perform similarly to the overall market. The analyst consensus for American Express is "Outperform," with 28 analysts covering the company. This suggests that analysts expect the company to perform better than the market average.



Financial Performance and Growth Prospects

American Express achieved a noteworthy revenue growth rate of 8.16% as of September 30, 2024, showcasing a substantial increase in top-line earnings. This positive financial performance may contribute to analysts' confidence in the company's Q4 performance and future growth prospects.



In conclusion, the recent forecast changes from Wall Street's most accurate analysts reflect a positive outlook on American Express's Q4 performance and future growth prospects. With a strong financial performance and a positive revenue trend, American Express is well-positioned to capitalize on market trends and execute on its strategic initiatives. As investors await the company's Q4 print, they can be confident that the analysts' recent price target revisions and ratings reflect a bullish sentiment on the company's prospects.