Visa price target raised to $326 from $319 at Citi

Citi analyst Andrew Schmidt raised the firm’s price target on Visa (V) to $326 from $319 and keeps a Buy rating on the shares. Visa delivered top- and bottom-line outperformance in fiscal Q4, supported by lower incentives and other revenues, the analyst tells investors in a research note. The firm says that while some of the incentives benefit is less predictable, key metrics like payments volume, cross-border volume, and processed transactions, were in-line to better. The results should “support a continued grind in the stock,” contends Citi.