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JP Morgan Downgrades American Express to “Underweight” (AXP)
Financial services giant American Express Company (AXP
) had its rating downgraded by JP Morgan analysts on Tuesday as the company may struggle to regain its operating leverage.
The analysts downgraded AXP from “Neutral” to “Underweight.” The firm sees shares reaching $63, a +3% upside to Monday’s closing price of $61.21.
American Express shares were down 70 cents, or -1.14%, during premarket trading on Tuesday. The stock is up +23.01% over the past year.
The Bottom Line
Shares of American Express (AXP) have a 1.31% dividend yield, based on last night’s closing stock price of $61.21. The stock has technical support in the $56 price area. The stock is approaching the all-time high range of $64-$65 a share.
American Express Company (AXP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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