KBW Maintains Outperform on American Express (AXP)

KBW is out with its report today on American Express AXP, maintaining Outperform. In a note to clients, KBW writes, "AXP reported operating 1Q11 results that were above our expectations. Following AXP's 1Q11 earnings announcement, we are raising our 2011 and 2012 EPS estimates to $3.92 (from $3.86) and $4.40 (from $4.30), respectively, to reflect stronger billed business growth expectations. We are also maintaining our $60 price target and OP rating." At the time of posting, shares of AXP were trading pre-market at $46.35, down 1.38% from Wednesday's close.