Morgan Stanley Overweight On Visa

Morgan Stanley has an Overweight rating and a $105 price target on shares of Visa V. In a note to clients, Morgan Stanley writes, "We recently had several meetings with V's senior management team, which reinforced our conviction that it remains unwavering in its commitment to tackle upcoming challenges (both regulatory and competitive) while maintaining a steadfast focus on the global secular payments opportunity. We firmly believe that V remains well-positioned to post above-average top and bottom-line growth which, in our view, is extremely important because as regulatory concerns subside (and they eventually will), V's ability to drive consistent, visible and solid growth will be the most meaningful driver of future valuation/multiple expansion. Said another way, V needs to be ready for when fundamentals matter again (and we believe it will be)." Shares of V lost $1.31 yesterday to close at $76.92.