Stifel Nicolaus Maintains Buy on Visa

Stifel Nicolaus is out with its report today on Visa V, maintaining Buy. In a note to clients, Stifel Nicolaus writes, "Combined with mgmt's mitigation efforts (will be implemented in 2H11), we believe it is highly likely that Visa will exceed its 2012 guidance. As a result, we are leaving our above-consensus EPS estimates unchanged and view any weakness as a buying opportunity, all else being equal. Our target price is $109 or 17x our above-consensus EPS estimate." At the time of posting, shares of V were trading pre-market at $87.29, down 1.03% from Wednesday's close.