Josh Brown’s Best Stock Idea: American Express (AXP)- Says Stock Can Hit $400

We recently published 10 Stocks Everyone’s Discussing Amid Latest Earnings Season. American Express Company (NYSE:AXP) is one of the stocks everyone’s discussing.

Josh Brown, CEO of Ritholtz Wealth Management, explained in a recent program on CNBC why he likes American Express. He believes AXP’s wealthy client base is one of the top catalysts for the company’s growth.

“American Express Co (NYSE:AXP) is, in addition to being the primary financial to capitalize on the fact that 50% of the spending in this economy in the United States is coming from the top 10% of households, every one of them has an AMEX Platinum card in their wallet. It’s also a bigger story about capital return and I’m going to get to that in one second. I would just point out it’s tough to buy stocks at all-time highs. Nobody wants to do that and I don’t aim to do that specifically, but this is a fresh breakout to new highs. There are now no natural sellers left here. I think it could march up to 400 over time. And the reason I don’t personally own it is because I’m already very exposed. American Express is the second largest holding at Berkshire Hathaway. It makes up 16% of Berkshire’s portfolio. They have 152 million shares. So they have 50 billion worth of AMEX on their books and I am a long-term Berkshire Hathaway shareholder. So I don’t need to double own AMEX. That’s why I’m not personally in this.”

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GreensKeeper Asset Management stated the following regarding American Express Company (NYSE:AXP) in its second quarter 2025 investor letter:

“The top contributor to the portfolio in the second quarter was American Express Company (NYSE:AXP) +18.6%. AXP’s affluent customer base continued to spend in Q1, with revenues up 8% at constant currency, causing the stock to end the quarter just shy of its all-time high. During Q2, AXP announced upgrades to its US Consumer and Business Platinum cards, which will be released later this year. AXP continues to tailor its products to capture the spending of younger consumers, with Millennials and Gen Z now accounting for 35% of total US consumer spending. We believe these investments will strengthen the company’s network effect and further lock young consumers into AXP’s ecosystem as their incomes and card spending continue to rise. Additionally, AXP is widening its use cases on the commercial side of the business with recent product launches tailored towards working capital and expense management. This should expand the number of transactions that AXP can participate in and increase switching costs with commercial card users.”

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