Stephanie Hyperlink spoke on CNBC’s “Quick Cash Halftime Report,” about Bank of America’s downgrade of American Categorical Firm (NYSE: AXP). The rationale behind the downgrade are mounting journey issues.
Hyperlink owns the stock and he or she would purchase extra. She sees it as a top quality franchise firm with an amazing stability sheet and he or she thinks it may take market share from the competitors. When the financial system reopens the stock goes to commerce increased and till then she has a 2% dividend yield.
See Additionally: Coronavirus Journey Worries Are Turning This American Categorical Analyst Bearish
Jim Cramer agrees with the promote name on American Categorical as a result of it’s about needing a vaccine. The stock is a journey and leisure title, believes Cramer.
Karen Firestone sees that there’s a distinction between American Categorical and different cost processors. It is extra of a enterprise journey kind of card and enterprise journey is just not near getting again. Firestone thinks that is a hazard to the stock.
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