AXP - 1 Top Stock to Buy for 2024 and Beyond
2024-01-02 09:19:26 ET
Nothing seems to be able to stop American Express (NYSE: AXP) from delivering robust growth for shareholders -- not an uncertain economy, pressured consumers, tough year-ago comparisons, or even a skittish October. Indeed, management recently reiterated a view it first provided last January for 15% to 17% year-over-year revenue growth in 2023. Even more, Amex continues to stick to its aggressive long-term target for annualized average revenue growth of 10% or greater and earnings-per-share growth in the mid-teens in 2024 and beyond.
This strong business momentum, combined with the stock's cheap valuation, makes American Express one of my top investment ideas for 2024 and beyond.
What's behind the company's extraordinary momentum? Let's examine its operations to find out.
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1 Top Stock to Buy for 2024 and Beyond