American Express Extends NBA Deal to WNBA, USA Basketball; Price Target Cut to $393
American Express broadened its multiyear NBA partnership to include WNBA and USA Basketball, gained NBA and G League Tip-Off rights, and launched an NBA ID program offering All-Star 2026 perks. Evercore ISI kept an In-Line rating but trimmed its price target to $393 as Q1 revenue rose 10% to $18.98B.
1. Partnership Expansion
American Express has extended its multiyear agreement with the NBA to include the WNBA and USA Basketball, securing entitlement rights for NBA Tip-Off and G League Tip-Off. The company will launch a connected NBA ID member program, granting cardholders exclusive access to All-Star 2026 events and special merchandise.
2. Analyst Reaction
Evercore ISI Group maintained its In-Line rating on American Express but lowered the price target from $400 to $393. The adjustment reflects a cautious view on near-term valuation despite the strategic brand visibility gained through sports partnerships.
3. Financial Performance
In Q1, American Express reported a 10% year-over-year revenue increase to $18.98 billion, driven by higher card member spending and net interest income growth. The company raised full-year revenue guidance to $78.73 billion–$79.45 billion and expects EPS of $17.30–$17.90.