Visa: Wells Fargo raises target price
(CercleFinance.com) - Wells Fargo maintains its Outperform rating on Visa shares, having increased its target price for them to 250 dollars from 225 dollars (closing price on Friday about 218 dollars, +0.
Analysts still believe that Visa is further entrenching itself in the global money movement ecosystem with its new products.
Wells Fargo is confident that the (V & MA) networks can still deliver about 20% EPS growth for the foreseeable future.
It believes that the earnings upside from the recovery in cross-border travel is a good cushion in a recessionary scenario, expecting a smooth transition for its new CEO Ryan McInerney.
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