Piper Jaffray Reiterates Overweight on Visa

Piper Jaffray is out with its report today on Visa V, reiterating Overweight. In a note to clients, Piper Jaffray writes, "Reiterate Overweight and $107 price target (18x CY12E EPS of $5.93). We believe the visibility of earnings growth has improved, which should drive up the multiples from current levels. While we view Visa as a 'fintech' company, many financial services investors are involved in the shares." Shares of V closed Wednesday at $88.20, down 0.14% from Tuesday's close.