• Truist Financial sets a price target of $400 for American Express (NYSE:AXP), indicating a potential increase of 13.49% from its current price.
• American Express is nearing Apple's position as the most valuable holding in Berkshire Hathaway's portfolio, with a 106% gain over the past two and a half years.
• Warren Buffett's long history with American Express contributes to its strong performance, with a current market capitalization of approximately $242.33 billion.

American Express (NYSE:AXP) is a global financial services company known for its credit card, charge card, and travel-related services. It competes with other major financial institutions like Visa and Mastercard. Recently, Truist Financial set a price target of $400 for AXP, which is a 13.49% increase from its current trading price of $352.46.

American Express is gaining prominence in Berkshire Hathaway's portfolio, nearing Apple's position as the most valuable holding. This shift is due to Berkshire's significant sales of Apple stock and the consistent rise in AXP's share price. The gap between the two holdings has narrowed significantly, with AXP's stock showing a 106% gain over the past two and a half years, compared to Apple's 35% increase.

Warren Buffett's history with American Express dates back to 1964, when he first invested in the company after a financial scandal. Berkshire Hathaway increased its holdings in the 1990s but hasn't made additional purchases since. Despite this, AXP's performance has been strong, with its current market capitalization at approximately $242.33 billion.

As of now, AXP's stock price is $351.79, reflecting a slight decrease of 0.11% or $0.39. The stock has traded between $347.08 and $355.30 today. Over the past year, AXP reached a high of $387.49 and a low of $220.43. The trading volume on the NYSE is 756,673 shares, indicating active investor interest.