13 Best Forever Stocks to Buy Right Now

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8. American Express Company (NYSE:AXP)

Number of Hedge Fund Holders: 62

American Express Company (NYSE:AXP) is a major bank holding company that offers a full digital payments network, including credit cards, charge cards, and financing alternatives. One key reason for its position as an industry leader is its premium brand. Late last year, AXP bought UBS’s 50% investment in Swisscard, becoming the sole owner of the credit card issuer. This transaction helped the company to establish a stronger base in the Swiss market.

On January 27, RBC Capital increased its price target for American Express Company (NYSE:AXP) from $330 to $350 and reaffirmed its Outperform rating on the company. According to the firm’s research, American Express had strong core results, with revenue up 9.3% yearly to $60.76 billion, reflecting favorable spending patterns. This was placed against a backdrop of rising costs, which RBC’s experts considered reasonable. In addition, American Express Company (NYSE:AXP) also posted strong results for the fourth quarter of 2024, with EPS of $3.04, slightly higher than the average expectation of $3.03.

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