Goldman Sachs Maintains Buy Rating On American Express

According to Goldman Sachs, American Express AXP Buy rating is maintained. Goldman Sachs said that on June 14, AXP announced that it is expanding its capabilities into the pre-paid market, with the launch of a reloadable pre-paid card. “Our 12-month price target remains $59 and is based on 13.4x our 2012 EPS estimate of $4.40. Our target multiple is based on our sum-of-the parts valuation. There are no changes to our estimates.” American Express closed yesterday at $48.15.