Evercore ISI Adjusts PT on American Express to $320 From $370, Keeps In Line Rating

JPMorgan added five stocks to its Overweight list, highlighting American Express (AXP) as a Value pick, Thermo Fisher (TMO) and Liberty Energy (LBRT) as Growth picks. AXP is down 18-19% YTD but JPMorgan sees steady profits and share buybacks. TMO is up 25% in 3 months, with growth driven by partnerships and AI-powered lab machines. LBRT is up 52% in 12 months, benefiting from AI data center power demands.

JPMorgan released its October stock picks, adding American Express (AXP), Thermo Fisher Scientific (TMO), and Liberty Energy (LBRT) to its 'overweight' list. AXP is seen as a value play despite a 18% YTD decline, while TMO and LBRT are growth picks due to strong sector trends. The bank advises diversification across sectors for Q4.

Fitch upgraded American Express (NYSE:AXP) to 'A+' from 'A', citing its affluent customer base, resilient fee-based earnings, and strong balance sheet. The upgrade highlights AXP's closed-loop network, steady revenue growth, and superior profitability. Fitch noted AXP's 11% annual revenue growth since 2022, low charge-offs, and strong capital generation.

Netflix (NFLX) was upgraded to Buy from Hold at Deutsche Bank with a $95 price target. American Express (AXP) announced its cards are now accepted at 190 million locations worldwide, up 20 million this year. AXP also unveiled a new Air Canada Aeroplan card portfolio with increased fees and benefits. AXP declared a $0.95 quarterly dividend. Anthropic agreed to pay SpaceX (SPCX) up to $84.5 billion for compute capacity through 2029, potentially making SpaceX profitable.

American Express (AmEx) announced its credit cards are now accepted at over 190 million merchant locations globally, with international acceptance more than doubling in four years. The expansion targets key travel destinations and event locations to compete with Visa and Mastercard. AmEx reported a 9% increase in billed business to $455.8 billion and 10% revenue growth to $19.6 billion in the latest quarter.

Greg Abel, successor to Warren Buffett, now oversees Berkshire Hathaway's $360 billion portfolio, with 82% concentrated in 10 stocks. Apple, American Express, and Alphabet are top holdings. Abel has added tech stocks and maintained financial stocks as key investments. Buffett's 'indefinite' holdings, like Coca-Cola, remain.