Visa price target raised to $327 from $310 at Bernstein

Bernstein raised the firm’s price target on Visa (V) to $327 from $310 and keeps an Outperform rating on the shares as part of a Q3 earnings preview for the payments space. Overall consumer spend decelerated slightly to 5%, with 0.5% of deceleration of volumes in Q3 likely driven by lower gas prices, the analyst tells investors in a research note. The firm says 2024 is shaping up to be a “narrative changing year for many payment companies as underlying secular growth slow (especially in the US), and competition intensifies.”