American Express has seen its status on the stock market improve over the past few days, thanks to analysis by a securities firm.
In a recent statement, Norman Securities analysts upgraded the firm, which handles merchant services and other operations, to “buy” from a status of “neutral” and increased its price target from $52 to $69. The firm said that AmEx has made smart investment decisions over the past few years and that as a result profits and earnings were expected to be higher.
“We believe AXP’s elevated levels of investments in fee-based businesses during 2010 and 2011 have placed it at the forefront of the digital transformation that is shaping the payments industry,” the analysts stated in a note.
One of the ways that American Express has been trying to expand its reach is by coming to agreements with airports. In June, the credit card firm came to terms with Toronto Pearson International Airport to promote its brand to the more than 33 million travelers each year.Back To Blog