Visa price target raised to $322 from $319 at Piper Sandler
The Fly

Visa price target raised to $322 from $319 at Piper Sandler

Piper Sandler analyst Arvind Ramnani raised the firm’s price target on Visa (V) to $322 from $319 and keeps an Overweight rating on the shares. The firm notes Visa’s Q4 results came in nicely above expectations, with top line, operating profit and EPS exceeding analysts’ models. Service, International and Other revenue all topped Street expectations, while Data Processing revenue lagged slightly below modeled estimates, Piper adds. The firm also points out that unsurprisingly, management expressed confidence around the DOJ’s lawsuit, which it believes lacks merit and noted that it intends to “defend (itself) vigorously.” Piper views the lawsuit as a risk which probably caps upside until there is clarity.

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