Wachovia Resumes Coverage on Visa (V) with an Outperform; Leading Global Franchise In Attractive Card Industry
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Wachovia resumes coverage on Visa, Inc. (NYSE: V) with an Outperform rating. Valuation Range of $82
to $84.
Wachovia analyst says, "We believe the underlying earnings visibility, balance sheet strength and profitability of V will result in an outperforming share price in the current economic environment. While V faces a difficult couple of quarterly comparisons due to declining fuel prices and F/X headwinds, we believe stability or modest improvement in the economy will enable V to drive double-digit revenue growth in fiscal 2010 and beyond. This, coupled with modest margin expansion and the return of free cash flow via buyback and dividends should drive attractive risk-adjusted returns for investors over the course of the next several years...V's Large Debit Franchise is Attractive."
Visa Inc. operates a retail electronic payments network. The Company facilitates global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.
To see more analyst ratings on V Click Here.
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