American Express Stock Price Target Boosted by Piper Sandler

American Express's (NYSE:AXP) stock price target was raised by Piper Sandler from $396.00 to $405.00 in a research report issued on Wednesday.

The firm currently has an 'overweight' rating on the payment services company's stock, indicating a potential upside of 18.71% from the company's previous close.

This is not the first revision to American Express's price target this month; Morgan Stanley decreased its price target on shares of the company from $385.00 to $382.00 and set an 'equal weight' rating, while JPMorgan Chase & Co. raised shares of American Express from a 'neutral' rating to an 'overweight' rating with a new target price of $400.00.

Average analyst estimates predict that American Express will post 17.67 EPS for the current year, and institutional investors have been making significant changes to their holdings in the company.