American Express (AXP) has positively impressed the market in 2024, outpacing other finance stocks throughout the year. The company showcased exceptional expense discipline, mitigating a slowdown in spending and surpassing profit estimates.
Allspring Global Investments Holdings LLC and
Mediolanum International Funds Ltd significantly increased their AXP holdings, and
Blodgett Wealth Advisors LLC purchased 4,660 shares. Q3 reports show AXP's earnings per share at
$3.49, and their full-year EPS guidance for 2024 was raised. Despite concerns about spending jitters, analysts and major players in the finance industry, including
Warren Buffett and
Jim Cramer, maintain a positive long-term outlook on the stock due to the company's steady growth, robust brand power, and its appeal to younger generations. AXP's performance has also prompted an increased forecast in the aftermath of its Q3 results. The company's stock has continually showcased momentum, marking it a top value stock, despite the economic uncertainty. However, a notable contention has been the downgrade of the stock from Buy to Hold, stirring debate among investors and analysts. Nonetheless, given its strategic advantage, profitable financial performance, and strong institutional backing of around 65%, American Express maintains a robust outlook for the near future.
American Express Company AXP News Analytics from Fri, 19 Apr 2024 07:00:00 GMT to Sat, 26 Oct 2024 07:42:29 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor 6
