Jefferies Initiates Coverage On Visa With Buy Rating

According to Jefferies, Visa V coverage is initiated with a Buy Rating. Jefferies said that it believes V's core position in the payments value-chain remains safe for the foreseeable future. “Our $95 price target is based on a blend of 16x our C12 EPS estimate of $5.98 and our DCF model. Key risks include global consumer spending trends and the regulatory environment.” Visa closed yesterday at $73.89.