Oppenheimer Maintains Outperform on Visa

Oppenheimer is out with its report today on Visa V, maintaining Outperform. In its report, Oppenheimer writes, "We believe V's valuation at <15x our CY12E of $5.99 is extremely attractive, and we anticipate multiple expansion as investors increasingly focus on core fundamentals. We are confident that V can deliver sustainable mid- to high-teens EPS growth over the intermediate/long term; maintain Outperform rating and $110 PT." At the time of posting, shares of V were trading pre-market at $86.40, up 0.02% from Wednesday's close.