Jim Cramer Says You Should Buy These 5 Stocks

4. American Express Company (NYSE:AXP)

Number of Hedge Fund Holders: 64

American Express Company (NYSE:AXP) provides payments solutions. Cramer was bullish on the company during his show on May 2 and gave it a Buy rating. He brought up the stock during the Discussed Stock segment of his show and underlined the recent earnings beat of the firm, noting that the stock had declined in value despite posting good results which was a “reflection of the current market and not the firm”. 

On April 26, Citi analyst Arren Cyganovich kept a Neutral rating on American Express Company (NYSE:AXP) stock and raised the price target to $190 from $187, appreciating the strong earnings beat of the firm in the first quarter. 

Among the hedge funds being tracked by Insider Monkey, Washington-based firm Fisher Asset Management is a leading shareholder in American Express Company (NYSE:AXP) with 15.7 million shares worth more than $2.5 billion. 

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and American Express Company (NYSE:AXP) was one of them. Here is what the fund said:

“In financials, American Express Company (NYSE:AXP) has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.”