BofA Analyst Reiterates Buy Rating on American Express (AXP)

BofA analyst Mihir Bhatia reiterated a Buy rating on American Express Company (NYSE:AXP) with a $387 price target, following a positive management update at a recent investor conference.

Rating Change

The analyst maintained the Buy rating without any change, keeping the price target at $387.

Analyst Rationale

Bhatia noted that the management's update at the recent conference was positive, boosting confidence in the company's future performance. Specific details of the update were not disclosed, but the analyst reaffirmed a bullish outlook.

Context

This reiteration comes after American Express was included in Warren Buffett's list of "10 Best Value Dividend Stocks to Buy Now." The stock has also performed well recently, though exact figures are not available.

Conclusion

The reiterated Buy rating from BofA strengthens confidence in American Express as a solid investment, especially given its inclusion in Buffett's value stock list. The $387 price target remains a key reference for investors.