Visa’s (V) partnership with X, under which it will be the company’s first partner for the X Money account, where X will leverage Visa’s real-time payments solution to allow customers to load money into X Money’s wallet, connect their debit card for P2P payments and transfer money back to their bank account, highlights the strength of Visa’s New Flows portfolio, Morgan Stanley analyst James Faucette tells investors in a research note. While the partnership is likely be small in terms of revenue contribution, the firm thinks the ongoing strength of Value-added Services and New Flows should help improve skepticism around the durability of Visa’s high-single to low-double-digit revenue growth cadence. Morgan Stanley has an Overweight rating and $371 price target on Visa shares.
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