Visa price target raised to $310 from $300 at Jefferies

Jefferies raised the firm’s price target on Visa (V) to $310 from $300 and keeps a Buy rating on the shares. The firm updated its payments models to reflect the key themes post Q2 earnings. The group is in a better spot with stable trends expected to persist through the second half of 2024, and an increasing number of “own-able stories,” the analyst tells investors in a research note. Corpay (CPAY) is Jefferies’ top pick coming out of Q2. It continues to favor MasterCard (MA) over Visa, seeing room for the current valuation spread to widen as MasterCard “cements itself as a cleaner med-term revenue and EPS growth story.”