J.P. Morgan is out with its report today on Visa V, raising its PT from $89 to $101.
In a note to clients, J.P. Morgan writes, "We are increasing our Dec 2011 price target to $101 (from $89), which applies a 17 multiple (up from 15x) to our new
CY12E EPS of $5.95. We note our target multiple is a slight premium to our estimated EPS growth rate through CY2013 (16%) and is about in line with its current front-year multiple. We note Visa has historically traded at a 10-20% premium to its forecasted growth rate."
J.P. Morgan maintains Overweight on V.
At the time of posting, shares of V were trading pre-market at $85.41, down 3.16% from Wednesday's close.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsData Processing & Outsourced ServicesInformation TechnologyJ.P. Morganvisa
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