Visa price target raised to $393 from $374 at Raymond James

Raymond James raised the firm’s price target on Visa (V) to $393 from $374 and keeps an Outperform rating on the shares. Visa’s Q1 results featured a 3% EPS beat on 2% revenue upside, and quarter to date trends were strong, with a 100 basis point acceleration in U.S. payments volume, and stable high-teens cross-border volume growth, the analyst tells investors in a research note. The firm expects estimates to be largely unchanged, and continues to see a favorable risk/reward.