Forecast Of The Day: American Express Commercial Card Transaction Volumes
What?
American Express (NYSE:AXP) Commercial Card Transaction Volumes declined from around $513 billion in 2019 to $407 billion in 2020. Trefis expects the metric to recover to around $470 billion in 2021 and to about $540 billion in 2022.
Why?
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While volumes plummeted in 2020 due to the Covid-19 lockdowns and travel restrictions, we expect them to see a recovery over 2021 and 2022 as the global economy continues to open up.
So What?
We think AXP stock is slightly undervalued at current levels. We value AXP at about $192 per share, about 12% ahead of the current market price.
See Our Complete Analysis For American Express
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