American Express Company (AXP):"You Could Have Estimates Go Up And Up That You End Up With" Amex, Says Jim Cramer

We recently published 12 Stocks Jim Cramer Talked About. American Express Company (NYSE:AXP) is one of the stocks Jim Cramer recently discussed.

American Express Company (NYSE:AXP) is a major travel and payments firm in America. It is one of the oldest players in the industry, and in his previous remarks, Cramer has praised the firm’s ability to attract younger users to its platform. American Express Company (NYSE:AXP)’s shares fell by 1.6% after its earnings, confirming Cramer’s prediction of the stock falling whether the earnings are good or bad. He briefly commented on the firm after its earnings report:

“Now you could have estimates go up and up that you end up with American Express. . .And those. . .where you just say you know what, they moved up, moved up, moved up. But we have a lot of catch-up upgrades today. Catch-up price target bumps.”

Here is what Cramer said about American Express Company (NYSE:AXP) before the earnings report:

“Then on Friday, there’s American Express, which is another stock that tends to sell off when it reports, no matter how good the numbers are. That’s why I always tell you to wait until the selling subsides if you want in this time… I don’t know what they’re thinking about, the sellers… They’ve been wrong for 150 points. Look at that stock. Listen to the call.

This company has a unique beloved product that young people cherish. What’s not to like? Steve Squeri, CEO, one of the great ones, well, he’ll have a terrific call and he will, you know what, he will tell us about why American Express card has now become not a product of a different era, our parents’ era, but a product of everyone. Everyone wants the thing. It’s prized. That stock’s going higher.”

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Disclosure: None. This article is originally published at Insider Monkey.