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American Express Stock Bull Case: How the Platinum Card Refresh Changes Everything in 2026
American Express (AXP) stock experienced a strong Q1 2026, driven by an 18% EPS jump and 11% revenue growth, largely due to the success of its Platinum Card refresh and accelerating card member spending. Despite an initial year-to-date decline, the company reaffirmed its full-year guidance and is making significant commercial expansions. Analysts are somewhat divided, with a mean target implying 15% upside, but the bullish case highlights the compounding effect of the Platinum refresh and robust credit quality, while the bearish case points to potential airline spend softness and increased competition.