reports
- Kunaal Malde
- CFA
Q4 beat but buyback suspended after tax charge
Q4 revenue and adjusted EPS were ahead, driven by an acceleration in billings growth. 2018 EPS guidance of $6.90-7.30 brackets consensus. Amex's capital position is in focus, as a $2.6bn charge related to tax reform means the company will suspend its H1 18 buyback to support recapitalisation. We remain Neutral but increase our PT to $112 given longer term tax reform benefits.
- Please Change Name Warren Kornfeld
American Express Company: Update Following Ratings Affirmation
FINANCIAL INSTITUTIONS CREDIT OPINION 10 November 2017 Update Contacts Warren Kornfeld +1.212.553.1932 Senior Vice President [email protected] Ram Sri- Saravanapavaan +1.212.553.4927 Associate Analyst [email protected] Brian L. Harris +1.212.553.4705 Senior Vice President/ Manager [email protected] Ana Arsov +1.212.553.3763 MD-Financial Institutions [email protected]
- Kunaal Malde
- CFA
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