American Express is in an uptrend

Filed under: American Express (AXP), Stocks to Buy

With American Express Co., (AXP), it's best to look down the field, i.e. think long-term, which is why I'm reiterating my Buy rating for the company, first recommended on April 27, 2009 at a price of $27.28. If you bought AXP in April, you're up about 51%.

As forecast, institutional investors (IIs) have looked right past AXP's likely double-digit revenue decline for 2009, to the probable sunnier skies in 2010. In the year ahead, charge-offs should continued to stabilize, amid slowing delinquencies.

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American Express is in an uptrend originally appeared on BloggingStocks on Mon, 16 Nov 2009 18:00:00 EST. Please see our terms for use of feeds.

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