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Markets gained on Thursday, June 1, 2023 as bipartisan plan to raise the debt ceiling advances in Congress.
Some companies clearly have what it takes to remain leaders in their sectors. Many will never face meaningful competitive threats.
American Express offers perks that are so compelling, cardmembers are willing to pay for them. At the same time, the payment middleman maintains strong, lucrative relationships with merchants and other service providers.
When looking at a number of overvalued blue-chip stocks, “Sell in May and Go away” fits. Typically, blue-chip stocks are generally among the safest stocks to own.
American Express Company (NYSE: AXP) ended 4.0% up on Friday after a Morgan Stanley analyst said it was a top pick in financial services. American Express stock should be worth $188 Betsy Graseck agreed that the multinational is not seeing its revenue grow as strongly as it did just after the pandemic.
As the world transitions to a more cashless society, Mastercard's value has continued to soar.
A noted Wall Street analyst had favorable comments about the stock in a research note. The stock is trading at an attractive valuation.
American Express' stock (NYSE: AXP) has gained 3% YTD, as compared to the 8% rise in the S&P500 over the same period.
This year, so far, dividend investors are dealing with underperformance as the market has shifted from value to growth stocks. This is amplified by economic growth fears. While underperformance isn't fun, weakness comes with opportunities, which is why I have aggressively added to a number of Buffett-style dividend growth stocks.
American Express has had 2 consecutive quarters of missing EPS consensus estimates. This has led to the stock losing some of its YTD price gains and presently trailing the S&P. Management has nonetheless maintained guidance of at least $11 EPS for this year, implying YoY EPS growth of at least 11.68%.