Credit/Debit Card Volume a Boon for Visa (V), MasterCard (MA) – Jefferies

June 5, 2012 9:58 AM EDT Send to a Friend
First Data's preliminary 'SpendTrend' data, which tracks same-store consumer spending at US Merchants, showed overall debit card volume acceleration in May. The data showed a 7.7 percent increase year-over-year. Visa (NYSE: V) reported a 10 percent year-over-year credit increase on May 28th, and taken together, the data speaks to strength for the payments networks and other processors.

In response to the positive data, analysts at Jefferies reiterate their Buy rating on Visa and MasterCard (NYSE: MA) as well as processors Global Payments (NYSE: GPB) and Total System Services, Inc. (NYSE: TSS). They maintain their Hold rating on Vantiv (NYSE: VNTV).

Dow Jones U.S. Financial Services ETF (NYSE: IYG) owns shares of both Visa and MasterCard (4.7 and 3.5 percent weightings).


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

ETFs

Related Entities

Jefferies & Co

Add Your Comment