Goldman Sachs Reiterates Buy rating on Visa (V)

Goldman Sachs is out with a research report this morning, where it takes a look at Visa's V recent payment volume data and what it means for the stock. The analysts are not altering their estimates, price target, or rating. The GS analysts noted that, for the month of July, US payment volume growth finished up 14% year over year (yoy). On a product basis, US credit payment volume growth finished up 7% yoy and debit payment volume growth rose 21% yoy. On a constant-currency basis, July cross border volume finished up 17% yoy. July processed transactions posted growth of 16% yoy on a global basis. For the month of August, US payment volume growth finished up 12% yoy. On a product basis, US credit payment volume growth finished up 5% yoy and debit payment volume growth rose 18% yoy. On a constant-currency basis, July cross border volume finished up 15% yoy. July processed transactions posted growth of 15% yoy on a global basis. The GS analysts believe that September payment growth will be at 13.5% year over year. On a product basis they are forecasting growth o 6% yoy and debt payment growth of 20% yoy.