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'Halftime Report' Traders Weigh In On American Express

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Stephanie Link spoke on CNBC's "Fast Money Halftime Report," about Bank of America's downgrade of American Express Company (NYSE: AXP). The reason behind the downgrade are mounting travel concerns.

Link owns the stock and she would buy more. She sees it as a quality franchise company with a great balance sheet and she thinks it can take market share from the competition. When the economy reopens the stock is going to trade higher and until then she has a 2% dividend yield.

See Also: Coronavirus Travel Worries Are Turning This American Express Analyst Bearish

Jim Cramer agrees with the sell call on American Express because it is about needing a vaccine. The stock is a travel and leisure name, believes Cramer.

Karen Firestone sees that there is a difference between American Express and other payment processors. It's more of a business travel type of card and business travel is not close to getting back. Firestone thinks that's a danger to the stock.

 

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Posted-In: CNBC Fast Money Halftime Report Jim Cramer Karen Firestone Stephanie LinkMedia