RBC Capital Cuts American Express (AXP) Price Target to $400

RBC Capital has reiterated its Outperform rating for American Express with a new price target of $400, a 27.69% upside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 1:57 PM EDT

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RBC Capital cut its price target on American Express Company ($AXP) to $400 from $415 on October 9, 2026, and rates the stock "Outperform".

Since the rating, $AXP is up 1.8% after 1 week and up 1.8% to date (from the $308.17 close on Oct 9, 2026).

AXP American Express Company

$313.59 -15.11% year to date

Daily close · Oct 16, 2026

Key Points

On October 9, 2026, RBC Capital reiterated its Outperform rating on American Express, setting a price target of $400, down from $415.
RBC Capital's $400 price target implies 27.69% upside from American Express Company's ($AXP) current $313.25 share price.
Shares of American Express recently traded at $313.25, which is below its 50-day and 200-day moving averages by 2.7% and 4.8%, respectively.
The consensus price target for American Express is $369.44, with 25 analysts covering the stock.

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RBC Capital has reiterated its Outperform rating for American Express Company (NYSE: AXP) on October 9, 2026. The firm set a new price target of $400, lowering it from $415. This reflects a cautious stance in light of recent market conditions.

Other Institutional Activity in American Express

Berkshire Hathaway, Inc. holds 151,610,700 shares of American Express, valued at about $47.5 billion. Meanwhile, Blackrock Inc. has 42,006,392 shares worth around $13.2 billion, having added 96,393 shares recently. Vanguard Capital Management LLC owns 35,215,521 shares valued at approximately $11.0 billion, increasing its position by 2,205,096 shares. State Street Corporation cut its stake by 131,523 shares, ending with 29,095,803 shares worth about $9.1 billion. JPMorgan Chase & Co. has 20,459,941 shares valued at roughly $6.4 billion, adding 51,022 shares.

American Express Company Stock Up 2.1%

American Express shares recently traded at $313.25 as of October 16, 2026. This price is below both its 50-day moving average of $322.00 and its 200-day average of $329.04. The stock is about 19.2% below its 52-week high of $387.49 but sits 7.7% above its 52-week low of $290.97.

12-month forecast

$AXP price target

American Express Company daily closes and this analyst's $400 target. Not advice.

Recent Earnings

American Express reported trailing twelve-month revenue of approximately $70.9 billion, with a net margin of 16.1% and an impressive return on equity of 34.4%. The next earnings report is expected on October 23, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B+ 81/100

Reported Apr 23, 2026

Forward outlook
3 target raises vs 1 cuts.
EPS & revenue
EPS beat estimates by 5.3%. Revenue beat estimates by 11.0%.
Profit surprise
Operating income beat by 33 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
3 target raises, 1 target cut.
Earnings quality
Gross margin up 1.0 points. Operating margin up 14.0 points. Positive free cash flow.

Earnings Call Summary

American Express had a very strong first quarter with revenue growth of 11 percent and earnings per share of $4.28, up 18 percent year over year. Card member spending grew 10 percent, the highest quarterly growth in 3 years, driven by strength in travel and dining. The company is investing heavily in commercial products, artificial intelligence capabilities, and sports partnerships including a new multiyear agreement with the National Football League to become the league's official payments partner.

Guidance American Express reaffirmed full year guidance of 9 to 10 percent revenue growth and earnings per share of $17.30 to $17.90, despite delivering 11 percent revenue growth in the first quarter. The company is reinvesting the outperformance in marketing and technology instead of raising guidance.

Good report. The company beat and showed some forward improvement, with a few meaningful caveats.

Insider Buying and Selling at American Express Company

Recent insider transactions include Jessica Lieberman, an officer, who sold 3,032 shares on March 6, 2026, at an average price of $300.02, totaling about $909,661. Another officer, Glenda Mcneal, sold 7,033 shares on June 15, 2026, for around $2.4 million. Monique Herena also sold 8,811 shares on August 18, 2026, valued at approximately $2.97 million.

Analysts Set New Price Targets

On October 5, 2026, UBS maintained a Neutral rating on American Express with a target of $345, down from $384. Barclays also maintained an Equal-Weight rating with a target of $342, reduced from $364. TD Cowen kept its Hold rating with a target of $335, down slightly from $338. RBC Capital’s recent target of $400 is now the highest among the analysts following the stock. The consensus price target stands at $369.44.

About American Express

American Express Company is a global payments company that operates across various regions, including North America, Europe, and Asia. It offers a wide range of services through its segments, which include consumer and commercial services, as well as merchant and network services. The company’s performance continues to be closely watched by investors and analysts alike.

Bottom Line

Investors should pay attention to American Express's upcoming earnings report on October 23, 2026, as well as any further updates from analysts. With RBC Capital maintaining its Outperform rating and adjusting its target, the market will be watching how the stock reacts in the coming weeks.