American Express Company AXP 0.07% stock was down more than 10 percent in early Friday trading after the company reported Q4 EPS that beat consensus expectations, but revenue that fell well short of what the market was looking for. Does the market have this one wrong, or does American Express deserve the punishment? Here’s what several top firms have to say.

Stifel

Analyst Christopher Brendler believes American Express’ weak quarter “confirms our long-standing concerns about its ability to compete in today’s intensely competitive card market.”

The firm maintained its Hold rating.

Pacific Crest

Analyst Josh Beck sees “limited upside to AXP” and believes that the potential for a return to double-digit EPS growth is contingent on yet-unclear growth initiatives.

The firm maintained a Sector Weight rating.

Barclays

Analyst Jeremy Campbell is…

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