American Express (AXP) Stock Forecast & Price Target

American Express is expected to experience continued revenue growth in the mid-single digit range, with their recent acquisition of TheFork contributing to a 50 basis point increase in revenues and 28 basis point increase in pretax earnings in 2027. However, increased competition in the consumer and commercial sectors and the lack of differentiation in their products may hinder revenue growth and continue to pressure their revenue. Although there is a possibility for new account growth and maintaining or increasing card fees, there is no guarantee and expectations for growth rates may need to be tempered, potentially impacting their valuation.

American Express is facing several challenges that could negatively impact its future financial performance, including a potential decline in super-prime consumer spending and a slowdown in new account growth. Additionally, the company's commercial volumes have been underperforming compared to competitors, and there is a lack of urgency in revitalizing its commercial offerings. These issues, coupled with unchanged revenue guidance for 2026 despite a major product refresh, warrant a negative outlook on the stock.