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Why This 1 Finance Stock Could Be a Great Addition to Your Portfolio

Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.

Let's now take a look at one standout stock that could be a perfect fit for your portfolio.

Why You Should Pay Attention to American Express (AXP)

Founded in 1850, NY-based American Express Company is a diversified financial services company, offering charge and credit payment card products, and travel-related services worldwide. American Express and its main subsidiary – American Express Travel Related Services Company, Inc. (“TRS”) – are bank holding companies under the Bank Holding Company Act of 1956. The company offers business travel-related services through its non-consolidated joint venture, American Express Global Business Travel (the GBT JV).

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Since being added to the Zacks Focus List on December 23, 2021 at $162.47 per share, shares of AXP have increased 46.89% to $238.65.

Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.07 to $12.89. AXP boasts an average earnings surprise of 6.4%.

Earnings for American Express are forecasted to see growth of 15% for the current fiscal year as well.

Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like AXP offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.

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American Express Company (AXP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research