Amex Goes After a Sports-Mad Crowd With Fanatics Credit Card

Impact · against what's priced in

The Fanatics partnership is a marginal positive for American Express as it targets the younger demographic the market currently discounts. However, a single co-branded card is insufficient to shift the long-term revenue growth trajectory from the assumed 1.6% back toward the 10%+ levels required for a significant price move.

AXP+0.10

Challenges what's priced in

The price assumes

Millennials and Gen Z becoming a structurally larger share of spending and fees

The partnership with Fanatics specifically targets a sports-mad crowd, supporting the acquisition of younger customers—a growth driver the market currently declines to price in.

What AXP's price assumes · Sep 4

• AXP
• american express
• credit cards
• fanatics
• fintech
• loyalty programs
• partnerships

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