Mon Sep 23 17:42:56 UTC 2024: ## American Express Hits New 52-Week High, Analysts Remain Divided
**New York, NY – September 23, 2024** – Shares of American Express (NYSE: AXP) soared to a new 52-week high on Monday, reaching $272.41 during trading. The stock closed at $270.77, representing a significant gain over the previous day’s close of $268.99. The surge in price was accompanied by a trading volume of 137,727 shares.
The company’s recent quarterly earnings report, released on July 19th, contributed to the positive sentiment surrounding the stock. American Express surpassed analysts’ expectations, reporting earnings per share of $3.49, exceeding the consensus estimate by $0.23. Revenue for the quarter reached $16.33 billion, slightly below the anticipated $16.60 billion.
Despite the positive earnings, analysts remain divided on the company’s future prospects. While some brokerages, like Wells Fargo & Company, have issued “overweight” ratings and increased their price targets, others, like BTIG Research, have maintained “neutral” ratings. MarketBeat.com reports an average rating of “Hold” for American Express, with an average target price of $230.78.
Institutional investors continue to show interest in AXP. Several firms, including Scarborough Advisors LLC and Vermillion & White Wealth Management Group LLC, have recently acquired new stakes in the company. Game Plan Financial Advisors LLC increased its position in American Express by 62.5% in the first quarter.
American Express operates as an integrated payments company across a global network, serving both consumers and businesses through its various segments.
**Disclaimer:** This article is for informational purposes only and should not be considered as investment advice.
First Piper 