KBW supports AXP's Platinum Card update and fee growth potential, viewing the announcement as positive.

From Yahoo Finance: 2025-06-25 15:08:00

American Express Company (NYSE:AXP) is recognized as one of the top stocks for an early retirement portfolio. Keefe, Bruyette & Woods maintained an Outperform rating and $360 price target for AXP shares after the company announced plans to update its Platinum Cards, marking its largest card refresh expenditure ever.

KBW supports AXP amidst a bold Platinum Card overhaul and potential fee growth. The firm believes a rise in the annual fee for the Platinum card could boost card fee income in the coming years. They also anticipate increased card account growth and engagement levels from the adjustments.

Despite competition from Chase’s upcoming Sapphire Reserve changes, KBW views AXP’s announcement as “incrementally positive.” Historical data suggests competitor card launches have had minimal impact on American Express Company (NYSE:AXP).

American Express Company (NYSE:AXP) is a prominent bank holding company offering a wide range of digital payment services such as credit cards, charge cards, and financing options.

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Source: Yahoo Finance, Insider Monkey.



Read more at Yahoo Finance: KBW Backs AXP Amid Bold Platinum Card Overhaul and Fee Growth Potential