American Express Company (NYSE:AXP) is one of the Best Monopoly Stocks to Buy According to Hedge Funds.
On July 6, Evercore ISI lifted its price objective on the company’s stock to $380 from $345, and maintained an “In Line” rating on the shares
As per the analyst, the trends are expected to be strong for Q2 regional bank and specialty finance EPS. That being said, the main focus will be on forward guidance, considering the higher-for-longer interest rate backdrop. In a different update, Citi analyst Ben Gerlinger maintained a “Hold” rating on the company’s stock, setting a price objective of $355.00.
The rating is backed by factors, which include strong operating momentum but limited upside over the near term. As per the analyst, American Express Company (NYSE:AXP) is planning to reinvest much of its incremental revenue into the business. This constrains earnings leverage and might impact investor sentiment.