Jim Cramer Says American Express Stock “Goes Higher”

American Express Company (NYSE:AXP) is one of the stocks Jim Cramer shared his thoughts on. During the lightning round, a caller inquired about the company, and here’s what Cramer had to say in response:

“Goes higher, Steve Squeri. Hey, wait till they report, then some clown always sells it, you can buy it better then.”

A close-up view of a payment terminal, capturing the sophistication of a payment network.

American Express Company (NYSE:AXP) provides credit and charge cards, banking services, payment and financing products, and travel-related offerings. The company also offers merchant services, fraud prevention, and customer loyalty programs, along with a few other services. On June 27, Cramer said he prefers the stock over its main competitors, as he remarked:

“Okay, this is a very hard question because Visa and MasterCard are valued much more highly, I think, than American Express in terms of PE multiple. I want American Express of these three, and I’ll tell you why. I think America’s Express has got this younger demographic that is really exciting and not really built into the price-to-earnings multiple. That said, look, these are all great companies… I met with Mastercard’s management this week. I talked with Visa’s management. You’re not going to go wrong owning any one of these companies. They’re three of the best companies in America.”

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