American Express Stock Still Looks Attractive Despite Soaring 29% This Year

The integrated payments company is seeing strong momentum across a number of key metrics.Market valuation multiples are elevated. The S&P 500 and Nasdaq 100 are currently trading at price-to-earnings ratios of about 23.2 and 29.5, respectively. That's up from approximately the S&P 500's multiple of approximately 18.4 and the Nasdaq 100's of 26.0 at this time last year. While this multiple expansion has fueled a rewarding run-up in stocks for investors, it's left them with fewer good options for new capital. ...