American Express Co

AXP: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$757.00	Gxcv	Rwvqcvrn

American Express: Following Earnings We Are Increasing Our Valuation to $190 From $178

Michael Miller

Jan 29, 2024

Returning to American Express following earnings, we are increasing our fair value estimate for American Express by 7% to $190 from $178. Our new fair value estimate translates to 14.8 times our projected 2024 earnings.

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