Nomura Securities Maintains a 'Buy' on Visa (V); Raises PT & Estimates
V Hot Sheet
Rating Summary:8 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Nomura Securities maintains a 'Buy' on Visa (NYSE: V) price target raised from $119 to $140.
Analyst, Bill Carcache, said, "Visa reported 1Q12 EPS of $1.49, relative to our estimate of $1.46 and consensus of $1.45. Excluding the impact of a higher-than-expected tax rate, the company beat our estimate by $0.09. The beat was primarily driven by higher-than-expected operating revenues and lower-than-expected operating expenses. Management is very bullish on 2012 as a result of new deals that appear to be on the cusp of occurring. Visa’s revised annual net revenue growth outlook increased to “low double digits” from the “high single to low double digits” range. Visa also increased its 2012 EPS outlook to high-teens growth from “mid-to-high teens” previously. While we continue to expect 2012 to bear the brunt of Durbin-related headwinds, we now believe Visa will enjoy faster reacceleration of growth in 2013 than we were previously expecting. Our revised 2012/13 estimates go to $5.98 / $7.22 (from $5.86 / $6.80)."
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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Analyst, Bill Carcache, said, "Visa reported 1Q12 EPS of $1.49, relative to our estimate of $1.46 and consensus of $1.45. Excluding the impact of a higher-than-expected tax rate, the company beat our estimate by $0.09. The beat was primarily driven by higher-than-expected operating revenues and lower-than-expected operating expenses. Management is very bullish on 2012 as a result of new deals that appear to be on the cusp of occurring. Visa’s revised annual net revenue growth outlook increased to “low double digits” from the “high single to low double digits” range. Visa also increased its 2012 EPS outlook to high-teens growth from “mid-to-high teens” previously. While we continue to expect 2012 to bear the brunt of Durbin-related headwinds, we now believe Visa will enjoy faster reacceleration of growth in 2013 than we were previously expecting. Our revised 2012/13 estimates go to $5.98 / $7.22 (from $5.86 / $6.80)."
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.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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