This investor loves American Express right now

Davis Rea CEO John O’Connell said recent weakness in American Express (American Express Stock Quote, Chart, News, Analysts, Financials NYSE:AXP) shares presents a buying opportunity, arguing the company is positioned to benefit from artificial intelligence rather than be disrupted by it.

Speaking on BNN Bloomberg’s Market Call on March 2, O’Connell said American Express differs from network peers because it has direct relationships with both cardholders and merchants.

“They have years and years and years of data on their customer,” he said. “AMEX has data on both sides of the transaction. So it is a company that actually should greatly benefit from AI.”

Shares have declined roughly 30% over the past 20 months amid broader market concerns tied to artificial intelligence and potential white-collar job disruption. A February 2026 report from Citrini Research outlined a scenario in which advanced AI agents could significantly reduce office employment, weighing on consumer spending and triggering a broader economic slowdown. The report contributed to a market selloff that affected several consumer- and financial-facing names.

O’Connell dismissed the concerns as overstated, characterizing the stock’s pullback as a valuation opportunity. He said his firm began building a position over the past year and has continued adding on weakness.

“It’s trading at very reasonable valuations,” he said. “We’re just buying on the way down.”

American Express shares have gained 2.4% over the past 12 months and 202.9% over five years. Of analysts covering the stock, 13 rate it “Buy,” 19 “Hold” and two “Sell,” with a consensus price target of US$386.04.

The shares closed on March 2 at US$307.39.

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