American Express (AXP) announced that Anre Williams, Chief Executive Officer of American Express National Bankwill, will leave the company

American Express benefits from increased spending by Millennials and Gen Z, who prioritize experiences over possessions. Click here to read why AXP is a Buy.

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American Express turned in solid quarterly results Friday, increased its dividend, and highlighted record levels of card member spending. However, investors seemed to be shrug off the positives, sending shares 2.

American Express Co. profits increased 12% as well-heeled consumers spent more than analysts expected on their credit cards over the holidays, a tailwind the firm said it expects will continue.

"2024 was another strong year for American Express," CEO Stephen J. Squeri said in a statement. "We exited the year with increased momentum, with billings growth accelerating to 8 percent in the fourth quarter, driven by stronger spending from our consumer and commercial customers during the holiday season."

The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $324.82, a high estimate of $350.00, and a low estimate of $301.00. This current average has increased by 9.11% from the previous average price target of $297.70.

American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC.

At about $313 per share (as of Jan. 17), American Express at least deserves a closer look from investors. But its valuation has gotten richer, with the stock trading at a price-to-earnings ratio of 23. That's 42% more expensive than just 12 months ago. The market has become bullish about its prospects as we look to the near term.

Wall Street analysts raised their price targets on American Express after the company's strong Q4 earnings, with revenue growth of 9% and plans for further growth in 2025 and 2026.

American Express shares fell 1.4% Friday after the company reported earnings and gave an outlook that disappointed some investors. The credit card company logged net income of $2.17 billion, or $3.04 a share,

Morgan Stanley analyst Jeffrey Adelson maintained a Hold rating on American Express (AXP – Research Report) today and set a price target of