Visa Hosts Surprise Earnings Call

Deutsche Bank has published a research report on Visa, Inc. V following the company's surprise earnings call after market close yesterday. In the report, Deutsche Bank writes "Visa hosted a surprise conference call Tues night to proactively address certain modeling nuances a day ahead of its regularly scheduled FY4Q10 earnings call. V said it planned to host this call for awhile, but that precise timing was dependent on 4Q10 #s being finalized. Although we typically would prefer more than 1hr notice for a call of this nature, we can also understand V's sensitivity in that providing a longer lead time could have given the mkt an opportunity to jump to more negative conclusions than were warranted in this instance. We believe V accomplished what it set out to do w/ this call, sparing Wed's earnings call from being bogged down by these technicalities." Deutsche Bank maintains its Buy rating and $99 price target. Visa Inc. closed yesterday at $80.03.