US: Jefferies Reiterates American Express to Hold, Lowers Target Price to $70

American Express Company (NYSE:AXP), a payments, network and travel company that offers credit payment card products, is reiterated by Jefferies Group to Hold Thursday morning, with the price target lowered to $70 from a previous price target of $85. The ratings were broken down to 5 ‘Sell’, 11 ‘Hold’, and 10 ‘Buy’. Jefferies Group released its shares recommendation of American Express on September 24, 2015.

American Express Company (NYSE:AXP)’s stock closed lower on Wednesday to $75.63, a 0.11% decrease from the previous day’s close. A total of 3.18 million shares exchanged hands, with the highest asking price reaching $75.96. The company’s stock hit its 52-week low of $71.71 on August 24, 2015, while its 52-week high of $94.89 was poted on December 29, 2014. The company has a market capitalization of $75.73 billion and the number of outstanding shares has been calculated to be 1,001,283,000 shares.

Warrent Buffett’s Berkshire Hathaway holds the most shares in American Express Company (NYSE:AXP) as of the second quarter of this year with 151.61 million, valued at $11.78 billion, or 10.99 percent of Berkshire’s total portfolio. Jean-Marie Eveillard’s First Eagle Investment Management increased its holding of American Express Company by 3% in the second quarter to 11.98 million shares with a value of $930 million. Ken Fisher’s Fisher Asset Management holds the third largest stake in the company among the hedge funds that we track, with 11.58 million shares.

American Express Co is a payments, network and travel company, which offers credit payment card products and travel-related services to consumers and businesses. Its key executives are Kenneth I. Chenault/Chairman of the Board and Chief Executive Officer; Stephen J. Squeri/Group President, Global Corporate Services; Edward P. Gilligan/President; Ashwini Gupta/Chief Risk Officer and President, Risk and Information Management; James Peter Bush/Executive Vice President, World Service;┬áJohn D. Hayes/Executive Vice President and Chief Marketing Officer; Anre D. Williams/President, Global Merchant Services; L. Kevin Cox/Chief Human Resources Officer; Douglas E. Buckminster/President, Global Network and International Card Services; Susan Sobbott/President, Global Corporate Payments; Joshua G. Silverman/President, Consumer Products and Services; Michael John O’neill/Executive Vice President, Corporate Affairs and Communications; Neal Sample/President, Enterprise Growth; Linda Zukauckas/Executive Vice President and Corporate Comptroller; Laureen E. Seeger/Executive Vice President and General Counsel; Carol V. Schwartz/Secretary; Jeffrey C. Campbell/Executive Vice President and Chief Financial Officer; Marc D Gordon/Executive Vice President and Chief Information Officer. – BusinessNewsAsia.com

LEAVE A REPLY