American Express Company (NYSE:AXP) is one of actions in Jim Cramer’s game plan for this week. Cramer said that after earnings, stocks typically decline, presenting a buying opportunity. He commented:
“Finally, Friday, well we hear American Express. This presents one of the most reliable and dependable models. Amex tends to decline right after its report. Then you have to pounce because a week later it turns out the price is much higher and you’ve lost your chance. I don’t think it will be any different this time.”
American Express Company (NYSE:AXP) provides payment, financing and expense management solutions through its credit and charge cards, banking and merchant services. It also offers travel, lifestyle and loyalty programs, fraud prevention tools and airport lounges. During the September 22 episode, Cramer mentioned the company and remarked:
“Then there’s American Express, which just released a refreshed platinum card, you may have gotten it this weekend, and I’m sure it will be a hit, especially with millennials and Gen Z. AMEX is expected to have 12.6% earnings growth next year, only slightly better than the market. And don’t be surprised if actual earnings growth surprises on the upside. At the same time, it sells for less than 20 times next year’s figures. That’s a bit cheaper than the S&P set.
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Disclosure: None. This article was originally published on Initiated Monkey.
