UPDATE: UBS Upgrades Visa (V) to Neutral

February 21, 2013 8:19 AM EST
Get Alerts V Hot Sheet
Price: $81.17 --0%

Rating Summary:
    23 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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(Updated - February 21, 2013 11:55 AM EST)

UBS upgraded Visa (NYSE: V) from Sell to Neutral and raised its price target from $123 to $156 after admitting their negative call on the stock was "simply wrong."

"We are upgrading V to Neutral following 1QFY13 earnings and its guidance reiteration," analyst John T. Williams said. "While shares have underperformed YTD (+6.2% vs. the S&P 500 +9.0%), we believe intact long-term guidance, operating leverage, the dividend, capital allocation options (i.e. buybacks), and no exposure to Europe will provide a floor—despite slower global spending growth trends."

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 $155.42 yesterday.

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