Visa: Jefferies initiates coverage with 'buy' rating
(CercleFinance.com) - Jefferies has initiated its coverage of the Visa stock with a "buy" rating and a target price of 170 dollars, deeming the US credit card giant to be the "pinnacle of the payments industry".
“Visa is the pinnacle of the payments industry with the largest payment network in the world, a globally recognized brand, and leveraged to sustainable secular growth trends which should persist even in the event of a macroeconomic slowdown,” the broker points out.
It appreciates the group's exposure to domestic debit in the event of a downturn and believes that in the longer term its Visa Direct business "could open new avenues of growth to a potential $10T+ global volume opportunity".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
“Visa is the pinnacle of the payments industry with the largest payment network in the world, a globally recognized brand, and leveraged to sustainable secular growth trends which should persist even in the event of a macroeconomic slowdown,” the broker points out.
It appreciates the group's exposure to domestic debit in the event of a downturn and believes that in the longer term its Visa Direct business "could open new avenues of growth to a potential $10T+ global volume opportunity".
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.