JP Morgan Cuts American Express (AXP) Price Target to $360

JP Morgan maintains its Overweight rating on American Express, lowering its price target from $400 to $360 on October 12, 2026, a 14.92% upside from the current price.

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

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JP Morgan cut its price target on American Express Company ($AXP) to $360 from $400 on October 12, 2026, and rates the stock "Overweight".

Since the rating, $AXP is up 0.7% to date (from the $311.53 close on Oct 12, 2026).

AXP American Express Company

$313.59 -15.11% year to date

Daily close · Oct 16, 2026

Key Points

JP Morgan has reiterated its Overweight rating on American Express, adjusting the price target from $400 to $360 as of October 12, 2026.
JP Morgan's $360 price target implies 14.92% upside from American Express Company's ($AXP) current $313.25 share price.
As of October 16, 2026, American Express shares recently traded at $313.25, which is about 15.2% below the mean analyst price target of $369.44.
The company has a market cap of approximately $212 billion and a trailing twelve-month revenue of about $70.9 billion.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated American Express Company alert may contain errors. Disclosures

JP Morgan has reiterated its Overweight rating on American Express Company (NYSE: AXP), lowering its price target from $400 to $360 as of October 12, 2026. This change comes as analysts evaluate the company's performance and market conditions.

JP Morgan's Call on American Express

JP Morgan's recent move reflects its ongoing confidence in American Express, despite the reduced target. The bank's analysts believe the stock has potential for growth, even as the target price has been adjusted downward.

Other Institutional Activity in American Express

Several other institutional investors have maintained or slightly adjusted their positions in American Express. Berkshire Hathaway holds 151,610,700 shares valued at about $47.5 billion, with no change in its stake. BlackRock Inc. grew its holdings by 96,393 shares, totaling 42,006,392 shares worth around $13.2 billion. Vanguard Capital Management LLC increased its position by 2,205,096 shares, bringing its total to 35,215,521 shares valued at about $11.0 billion. However, State Street Corporation reduced its shares by 131,523, ending with 29,095,803 shares worth around $9.1 billion.

American Express Company Stock Up 2.1%

As of October 16, 2026, American Express shares are trading at $313.25, which 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 and 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 $360 target. Not advice.

Recent Earnings

American Express reported trailing twelve-month revenue of approximately $70.9 billion, with a year-over-year revenue growth rate of 12.8%. The company has a trailing earnings per share (EPS) of $16.48 and a return on equity (ROE) of 34.4%. The next earnings report is expected on 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 at American Express include several sales by company officers. Jessica Lieberman, an officer, sold 3,032 shares on March 6, 2026, for about $909,661 at an average price of $300.02. Glenda McNeal sold 7,033 shares on June 15, 2026, valued at approximately $2.39 million, at an average price of $339.36. Additionally, Monique Herena sold 8,811 shares on August 18, 2026, for roughly $2.97 million at an average price of $337.41.

Analysts Set New Price Targets

On October 12, 2026, JP Morgan maintained its Overweight rating on American Express with a revised price target of $360. The mean price target among analysts is $369.44, with 25 analysts covering the stock, resulting in a consensus recommendation of "buy." Earlier, RBC Capital maintained an Outperform rating with a price target of $400, down from $415, while TD Cowen maintained a Hold rating with a target of $335.

About American Express

American Express Company operates as an integrated payments company, providing services in the U.S. and globally. It has four main segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services. This rating change by JP Morgan reflects the bank's view on the company's growth potential despite current market conditions.

Bottom Line

Investors will be watching American Express closely as the next earnings report is set for October 23, 2026. Keep an eye on any further analyst updates and overall market trends that may impact the company's performance.