Goldman Sachs Reiterates Buy on American Express

Goldman Sachs is out with its report today on American Express AXP, reiterating Buy. In its report, Goldman Sachs writes, "On Wednesday, AXP hosted an investor day. A clear takeaway from the event is that many of AXP's spending initiatives from the past 18 months will drive revenue growth in the quarters to come. We reiterate our Buy rating on AXP. While investors point to elevated expenses, we believe yesterday's event helped clarify the revenue opportunities from its spending program. We expect AXP to provide some targets for these initiatives in the coming quarters." At the time of posting, shares of AXP were trading pre-market at $48.02, down 1.72% from Wednesday's close.