Wells Fargo Analyst Maintains Buy Rating on American Express Amid Strong Earnings

American Express has received a positive rating from Wells Fargo analyst Donald Fandetti. He reiterated his Buy rating on the company and set a price target of $415.00 for AXP shares, which closed at $324.43 yesterday.

Fandetti's success rate is 62.44%, with an average return of 9.8% on recommended stocks. The word on Wall Street suggests a Moderate Buy consensus rating for American Express, with an average price target of $380.11.

In its latest earnings release, American Express reported a quarterly revenue of $21.6 billion and a net profit of $3.11 billion. This is compared to last year's revenue of $19.93 billion and net profit of $2.89 billion.