American Express Price Target Trimmed by BofA While Buy Rating Maintained

Core Viewpoint - BofA Securities has slightly lowered its price target for American Express to $381 while maintaining a Buy rating, reflecting a review of the company's February operating performance [1] Group 1: Loan Growth and Performance - February results showed a modest deceleration in loan growth year-over-year, tracking in the mid- to high-single-digit range [1][2] - Delinquency trends remained consistent with typical seasonal patterns, and loss performance was slightly better than expected, with loss rates near 2% [2] Group 2: Earnings Forecasts - BofA updated its earnings forecasts, raising the first-quarter EPS estimate to $4.00 from $3.93, while adjusting 2026 and 2027 EPS projections to $17.48 and $20.04, respectively [2] - The revised price target of $381 is based on an unchanged valuation multiple of 19 times the firm's 2027 earnings estimate [3]