American Express Extends NBA Partnership and Faces Price Target Cut to $393
American Express extended its multiyear NBA partnership to include the WNBA and USA Basketball, serving as entitlement partner for NBA and G League Tip-Off events with an NBA ID member rewards program. Evercore ISI maintained its In-Line rating but cut its price target from $400 to $393.
1. Partnership Extension Details
American Express will deepen its collaboration with the NBA by increasing investment in the WNBA and adding USA Basketball, encompassing both Men’s and Women’s National Teams. The deal names the company entitlement partner for NBA Tip-Off and G League Tip-Off events and launches a connected member program with NBA ID, offering exclusive All-Star 2026 access and merchandise.
2. Analyst Outlook Adjustment
Evercore ISI retained an In-Line rating on American Express but trimmed its 12-month price forecast to $393 from $400, citing moderated growth prospects. Truist Securities and JP Morgan also lowered targets to $400 and $375 respectively, positioning the average analyst target near $341.
3. Recent Earnings and Guidance
In its January 30 quarter American Express reported revenue of $18.98 billion, up 10% year-over-year and above the $18.92 billion estimate, driven by higher cardmember spending and net interest income. Full-year revenue is projected at $78.73–79.45 billion with EPS guidance of $17.30–17.90, aligning with market forecasts.