Sell-side weighs in on AmEx after investor day

|By:, SA News Editor

via Bloomberg

A bull on the stock, KBW's Sanjay Sakhrani said American Express (AXP +0.1%) did a good job with a "road map to accelerated growth," and expects buybacks and cost savings to help hit the low end of 2017 guidance.

A bear on the stock, Credit Suisse's Moshe Orenbuch sees the company having a tough time hitting its 6% revenue growth target amid pressure from merchant discount rate compression and cash back rewards. A lot more marketing spend is likely to be required.

Also a bear, Nomura's Bill Carcache also says spending will need to ratchet up if the company hopes to hit that revenue target.

Another bull, JPMorgan's Richard Shane says new loan product offerings will drive strong earnings growth in coming years.

Previously: AmEx talks shop at investor day (March 8)

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