2024-07-01 06:18:06 ET
Summary
- AXP experienced strong growth in Q1 2024, with revenue up 11% and EPS up 39%.
- AXP has a reasonable valuation compared to growth prospects, with room for dividend growth.
- Initiating coverage with a buy based on American Express' healthy financials, strong management team, and innovation. However, near-term volatility is possible due to approaching all-time highs.
Investment Thesis
American Express ( AXP ) is a financial services company that's been experiencing strong growth. Their revenue grew 11% YoY in Q1 2024 with EPS soaring 39%. The company itself projects full year revenue growth of 9% to 11% and EPS growth of 13% to 17%. This positive performance is backed by strong credit quality with delinquency rates remaining low....
Read the full article on Seeking Alpha
For further details see:
American Express: A Fintech Powerhouse With Growth Momentum, Buy