Jim Cramer Suggests American Express for “Exposure to An Affluent Consumer”

American Express Company (NYSE:AXP) is among the stocks Jim Cramer reviewed while discussing the Iran ceasefire that triggered a relief rally. Cramer was bullish on the stock during the episode, as he said:

American Express, its customer base skews wealthier, and demand for premium products can stay strong even if the rest of the economy slows down. You know exactly what you’re going to get with American Express, although it does have again a much higher PE multiple…  If you want more exposure to an affluent consumer, you go with American Express.

Stock market data. Photo by Alesia Kozik on Pexels

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. During the Squawk on the Street episode aired on April 1, Cramer mentioned the stock and said:

I think that American Express was one of the worst performers. I think American Express down 17% seems pretty interesting to me. I’m willing to take a, I hate to say this, but a flyer, on some of these travel names, betting that they were too linked with gasoline. With gasoline, now breaching four dollar, but it can start coming down if the President says tonight, that the war’s going to end soon.

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