BMO Capital Rates American Express (AXP) Outperform

BMO Capital has reaffirmed its Outperform rating for American Express with a price target of $380, a 21.31% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 1:57 PM EDT

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BMO Capital rated American Express Company ($AXP) "Outperform" with a $380 price target on October 9, 2026.

Since the rating, $AXP is up 1.8% after 1 week and up 1.8% to date (from the $308.17 close on Oct 9, 2026).

AXP American Express Company

$313.59 -15.11% year to date

Daily close · Oct 16, 2026

Key Points

BMO Capital reiterated its Outperform rating on American Express Company (AXP) on October 9, 2026, with a target price of $380.
BMO Capital's $380 price target implies 21.31% upside from American Express Company's ($AXP) current $313.25 share price.
The stock recently traded around $313.25, which is about 17.6% below BMO's target price.
American Express has a market cap of approximately $212 billion, with a P/E ratio of about 19.0.

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BMO Capital has reaffirmed its Outperform rating on American Express Company (NYSE: AXP) and set a price target of $380 on October 9, 2026. This rating indicates that BMO expects the stock to outperform the market in the future.

Other Institutional Activity in American Express

Several other funds have also been active with American Express. Berkshire Hathaway, Inc. holds about 151.6 million shares valued at approximately $47.5 billion. Blackrock Inc. increased its stake by 96,393 shares, now owning about 42 million shares worth around $13.2 billion. Vanguard Capital Management LLC grew its position by 2.2 million shares, ending with about 35.2 million shares valued at about $11.0 billion. State Street Corporation slightly reduced its holdings by 131,523 shares, bringing its total to about 29.1 million shares worth approximately $9.1 billion. JPMorgan Chase & Co. added 51,022 shares, now holding around 20.5 million shares valued at about $6.4 billion.

American Express Company Stock Up 2.1%

As of October 16, 2026, American Express shares are trading around $313.25. This price is about 2.7% below the 50-day moving average of $322.00 and 4.8% below the 200-day moving average of $329.04. The stock is currently about 19.2% below its 52-week high of $387.49, but it remains 7.7% above its 52-week low of $290.97.

12-month forecast

$AXP price target

American Express Company daily closes and this analyst's $380 target. Not advice.

Recent Earnings

In its latest financial results, American Express reported a trailing twelve-month revenue of approximately $70.9 billion and an EPS of $16.48. The company has shown a year-over-year revenue growth of 12.8% and a net margin of 16.1%. Its next earnings report is scheduled for October 23, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B+ 81/100

Reported Apr 23, 2026

Forward outlook
3 target raises vs 1 cuts.
EPS & revenue
EPS beat estimates by 5.3%. Revenue beat estimates by 11.0%.
Profit surprise
Operating income beat by 33 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
3 target raises, 1 target cut.
Earnings quality
Gross margin up 1.0 points. Operating margin up 14.0 points. Positive free cash flow.

Earnings Call Summary

American Express had a very strong first quarter with revenue growth of 11 percent and earnings per share of $4.28, up 18 percent year over year. Card member spending grew 10 percent, the highest quarterly growth in 3 years, driven by strength in travel and dining. The company is investing heavily in commercial products, artificial intelligence capabilities, and sports partnerships including a new multiyear agreement with the National Football League to become the league's official payments partner.

Guidance American Express reaffirmed full year guidance of 9 to 10 percent revenue growth and earnings per share of $17.30 to $17.90, despite delivering 11 percent revenue growth in the first quarter. The company is reinvesting the outperformance in marketing and technology instead of raising guidance.

Good report. The company beat and showed some forward improvement, with a few meaningful caveats.

Insider Buying and Selling at American Express Company

Recent insider transactions include sales by several officers. On March 6, 2026, Officer Jessica Lieberman sold 3,032 shares for about $909,661. Officer Raymond Joabar sold 40 shares on March 13, 2026, valued at $12,257. On June 15, 2026, Officer Glenda McNeal sold 7,033 shares for approximately $2.4 million, and Officer Monique Herena sold 8,811 shares on August 18, 2026, for about $2.97 million.

Analysts Set New Price Targets

On October 5, 2026, UBS maintained a Neutral rating with a target of $345, while Barclays also maintained an Equal-Weight rating with a target of $342. TD Cowen kept its Hold rating with a target of $335. On the same day BMO Capital reiterated its Outperform rating with a target of $380. The consensus target price among analysts is approximately $369.44 based on 25 opinions, indicating a buy recommendation.

About American Express

American Express Company operates as a global payments company, providing credit and charge card products and services. It serves a wide range of customers through its various segments, including consumer and commercial services. This reiteration of the Outperform rating is significant as it reflects confidence in American Express's business model and growth potential.

Bottom Line

Investors should watch for American Express's upcoming earnings report on October 23, 2026, as it may provide further insights into the company's performance. Additionally, keep an eye on any new analyst ratings or price target adjustments that may arise following the earnings announcement.