Jim Cramer on American Express: "I Think That Company's Great"

American Express Company (NYSE:AXP) is one of the stocks Jim Cramer discussed recently. Cramer showed a positive sentiment toward the company, as he said:

“Over the past few weeks, it looks like the experiential economy ain’t what it used to be… When you put it all together, it paints an increasingly negative picture of the whole experiential economy. I’m not yet ready to completely give up on this theme. As I could also point to some contraindicators, like continuous strength in American Express, the preferred credit card for all things travel-related. You know, I think that company’s great.”

American Express Company (NYSE:AXP) provides credit and charge cards, payment processing, banking, and travel-related services. The company also offers merchant solutions and expense management tools. Cramer discussed the company during the November 12 episode and commented:

“It’s been at least a week since someone has urged their clients to buy the stock of American Express. I know it’s counterintuitive, but you believe this stock’s already at an all-time high today. That’s perfect because everyone likes a good price target boost. How can you not raise the price target of American Express when it’s never been this high?”

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