In a report published Monday, Stifel Nicolaus analyst Christopher Brendler reiterated a Buy rating on Visa V, and raised the price target from $192.00 to $205.00.
In the report, Stifel Nicolaus noted, “Despite the recent outperformance, we remain firmly bullish on Visa following its investor day. While the story is now well-known, we believe investors are underestimating the magnitude of the payments growth opportunity that still remains especially as mobile technology accelerates merchant acceptance across emerging markets. Although the stock is more vulnerable to exogenous shocks at these levels, we struggle to find material threats given management's significant flexibility to manage pricing and costs should the need arise. As such, we reiterate our Buy rating and increase our target price to $205 based on 21x our new calendar 2014 EPS estimate.”
Visa closed on Friday at $179.94.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.