Street View: Wealthy customer base continues to shield AmEx

ReutersApr 24, 2026 12:01 PM

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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

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