Goldman Sachs Lifts Price Target on Visa (V) to $125 Following Strong Q1

Earlier, Goldman Sachs raised its price target on Conviction Buy-list rated Visa (NYSE: V) from $114 to $125 following strong Q1 results.

The firm raised FY2012-FY2014 EPS to reflect higher revenues. For FY12 the firm now forecast EPS of $5.95 (+19% yoy) on revenue growth of 10.1%. For FY13 they now forecast EPS of $7.17 (+20.6% yoy) on revenue growth of 12.4%. For FY14 they now forecast EPS of $8.25 (+15.1% yoy) on revenue growth of 11.0%.

"We reiterate our CL Buy on V shares and move forward with increased confidence that its globally diversified offerings across credit and debit products, online and offline channels, and emerging payments, are powering substantial growth opportunities that should help buffer the final impact of recent debit reform," the analyst said.

For an analyst ratings summary and ratings history on Visa click here. For more ratings news on Visa click here.

Shares of Visa closed at $108.35 yesterday, with a 52 week range of $70.68-$108.64.

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