Visa initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Visa with an Overweight rating and $322 price target. The analyst believes Visa should be able to grow revenues by 10.7%, driven by multiple growth drivers. This is supported by its foundational offering in annual aggregate transaction volume of $15 trillion, with a “vast growing” addressable market of over $250 trillion, the analyst tells investors in a research note. Piper believes Visa can sustain operating margin expansion through its scale, continued execution, and margin uplift from new and emerging technology.