Freedom Broker has upgraded American Express Company (AXP) stock to Buy from Hold, signaling renewed confidence in the payments giant.

The brokerage also raised its price target to $370 from $325, according to a report by Detik Finance.

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The upgrade comes after American Express reported better-than-expected first-quarter earnings, although the company chose to keep its initial full-year guidance unchanged.

Strong First-Quarter Performance

American Express posted an 11% increase in revenue in the first quarter of 2026, or 10% on a foreign-exchange-adjusted basis.

Earnings per share rose 18% year over year to $4.28.

The results surpassed analyst expectations, but the decision to maintain the existing full-year forecast “slightly cooled market sentiment,” the analyst noted.

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Chairman and CEO Stephen Squeri said the company started the year on solid footing.

He explained that the positive momentum prompted the company to increase funding for business development.

Strategic Investments and Partnerships

Squeri stated that American Express plans to boost investments in marketing and technology to support future growth. The company aims to sustain its momentum through these strategic initiatives.

In March, American Express finalized a multi-year global partnership with the National Football League (NFL).

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The agreement makes the premium lifestyle brand the official payments partner of the NFL starting with the 2026 season.

The CEO also outlined a launch schedule for several commercial services in the United States.

The rollout includes the Graphite Business Cash Unlimited Card, set to debut in 2026.

Freedom Broker's upgrade reflects optimism about American Express's ability to maintain growth despite a cautious full-year outlook.

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The stock now carries a Buy rating with a revised price target of $370.