Piper Sandler Rates American Express (AXP) buy, $396 Price Target

Analyst Bill Carcache reaffirmed a buy rating on the credit services leader, suggesting room for growth from recent trading levels, a 17.07% upside from the current price.

By EarningsIQ Research Desk · Published Jun 30, 2026, 10:01 AM EDT · Updated Jul 1, 2026, 3:01 PM EDT

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Piper Sandler rated American Express Company ($AXP) "buy" with a $396 price target on June 30, 2026.

Since the rating, $AXP is up 3.6% after 1 week, up 0.1% after 1 month and down 6.8% to date (from the $336.29 close on Jun 30, 2026).

AXP American Express Company

$313.59 -15.11% year to date

Daily close · Oct 16, 2026

Key Points

Piper Sandler analyst Bill Carcache reiterated a buy rating on American Express on June 30, 2026, and established a price target of $396.00.
Piper Sandler's $396 price target implies 17.07% upside from American Express Company's ($AXP) current $338.25 share price.
American Express shares were trading at $338.25 on Tuesday, placing the stock roughly $58 below the new target set by the analyst.
The company reported annual revenue of $70.91 billion and holds a dividend yield of 1.21% as it prepares for its next earnings release in October.

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Piper Sandler analyst Bill Carcache reiterated a buy rating on American Express Company (NYSE:AXP) on June 30, 2026. The firm set a price target of $396.00 for the financial services giant, signaling a belief that the stock has more room to run. This update arrives as several other major Wall Street firms have adjusted their own views on the company throughout the year.

Analyst rating track record

Piper Sandler vs. the S&P 500

YTD return -12.24% hypothetical

All-time return +31.27% S&P 500 +35.93%

vs. S&P 500 -4.66% behind the index

Hypothetical returns from Piper Sandler's disclosed trades, not real profit or advice. How we model this.

American Express Stock Performance and Target Gap

The new $396.00 target suggests a significant gap compared to where shares have been trading lately. On Tuesday, the stock was priced at $338.25. At this level, American Express is trading above its 50-day moving average of $322.00, though it remains below its 52-week high of $387.49. The $19.05 price-to-earnings (P/E) ratio shows that investors are paying a premium for the company's earnings compared to some slower-growing financial firms, but the forward P/E of 15.57 suggests expectations for stronger profits ahead.

12-month forecast

$AXP price target

American Express Company daily closes and this analyst's $396 target. Not advice.

Analysts Set New Price Targets

Several other analysts have checked in with their own views on American Express recently. On October 12, 2026, Morgan Stanley maintained an Equal-Weight rating while slightly lowering its price target from $382.00 to $380.00. That same day, JP Morgan kept its Overweight rating but reduced its target from $400.00 to $360.00. Earlier in October, RBC Capital maintained an Outperform rating with a $400.00 target, down from a previous $415.00. BMO Capital initiated coverage with an Outperform rating and a $380.00 target on October 9, 2026. These professional opinions vary, but the consensus among 25 analysts remains a buy, with an average price target of $369.44.

American Express Financial Results

In its most recent financial reporting, American Express showed revenue growth of 12.8%, bringing its total revenue to $70.91 billion. The company produced earnings per share of $16.48, backed by a net margin of 0.16%. Its return on equity, a measure of how effectively it uses shareholder money to generate profit, stands at 34.4%. Investors are now looking toward the next earnings announcement, which is scheduled for October 23, 2026.

Dividend and Shareholder Returns

American Express continues to share its profits with investors through a regular dividend. The stock currently offers a 1.21% dividend yield. With a payout ratio of 21.48%, the company uses about a fifth of its earnings to cover these payments, leaving the rest of its cash for growing the business or other corporate needs.

About American Express Company

American Express is a global payments company that handles everything from consumer credit cards to commercial expense management. Based in New York, the firm operates its own payment network, allowing it to earn fees from both the people using the cards and the merchants who accept them. This integrated model gives it a unique position in the financial world compared to banks that rely solely on lending.

What's Ahead for American Express Company

Investors will likely watch the $396.00 target as a benchmark for whether American Express can break through its recent trading range. The next major catalyst for the stock will be the October 23, 2026, earnings report, which will provide a clearer picture of consumer spending habits and credit quality. While analyst targets provide a professional outlook on where the stock might go, they are opinions based on data available at a specific point in time and can change as market conditions shift.