Visa (V): Notes From A Non Deal Roadhow With the CFO - Piper Jaffray

Piper Jaffray analyst, Jason Deleeuw recently traveled with Vasant Prabhu, Visa's (NYSE: V) CFO, and Jack Carsky, head of Investor Relations. The analyst believes the V-PYPL agreement should meaningfully reduce friction for all parties and over time, drive more debit/credit volume to Visa and its bank issuers from ACH. The pace of that migration will depend on how effectively bank issuers and PayPal engage. He also believes that Visa Europe cost/revenue synergies and a potential acceleration in cross-border volume growth are two potential key drivers of better-than-consensus earning power over the next 1-3 years. He reiterated his Overweight rating and sees Visa well-positioned for attractive relative long-term growth driven by the electronification of payments.

No change to Overweight rating or price target of $94.00

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 $78.53 yesterday.

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