CORRECTED: American Express, Consumer Discretionary, Copart And More: CNBC's 'Final Trades'

Author: Priya Nigam | September 21, 2023 04:29pm

Editor's note: A previous version of this story incorrectly suggested a sell recommendation was made for American Express. The headline has been corrected.
On CNBC’s "Halftime Report Final Trades," Shannon Saccocia of Boston Private named SPDR S&P Telecom ETF (NYSE:XTL), saying telecommunication services sector has done very well.

Stephanie Link of Hightower said American Express Company (NYSE:AXP) is trading at 13 times its forward estimates and has historically traded closer to 18 times. "I like the valuation," she added.

RBC Capital analyst Jon Arfstrom recently upgraded American Express from Sector Perform to Outperform and raised the price target from $197 to $200.

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Joseph Terranova of Virtus Investment Partners said Copart, Inc. (NASDAQ:CPRT) reported quarterly earnings last Friday. The stock fell slightly and this is a "great opportunity to pick up a quality company," he added.

Copart reported upbeat results for its fourth quarter, posting adjusted earnings of 34 cents per share, topping market estimates of 32 cents per share.

Liz Young of BNY Mellon Investment Management recommended selling Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY), adding the consumer is getting weaker.

Price Action: Copart shares fell 1.2% to close at $44.02, while American Express shares fell 1.3% to settle at $157.23 on Wednesday.

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Posted In: AXP CPRT XLY XTL