This stock has backed up recently and is offering the best entry point since late last year, despite posting solid second-quarter results. American Express Company (NYSE: AXP) provides charge and credit-payment card products, and travel-related services worldwide.
The company operates through three segments: global consumer services group; global commercial services; and global merchant and network services. Its products and services include payment and financing products; network services; accounts payable expense-management products and services; and travel and lifestyle services.
The company’s products and services also comprise merchant acquisition and processing; servicing and settlement; point-of-sale marketing; information products and services for merchants; and fraud prevention services; as well as the design and operation of customer loyalty programs. It sells its products and services to consumers, small businesses, mid-sized companies, and large corporations through mobile and online applications, third-party vendors and business partners, direct mail, telephone, in-house sales teams, and direct response advertising.
Shareholders are currently paid a 1.36% dividend. Wells Fargo has an overweight rating on the financial giant and a $170 price target. The Wall Street consensus target for the stock is posted at $167.75. The shares closed trading on Friday at $152.50.
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