Visa Europe Deal Seen as Positive Catalyst for Visa (V) Shares - Jefferies
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Rating Summary:
35 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Jefferies analyst Jason Kupferberg reiterated a Buy rating and price target of $80 on Visa (NYSE: V) as they examine a potential deal for Visa Europe. The analyst said while the deal is largely discounted in the stock, the actual announcement should be a positive catalyst.
Kupferberg commented, "The Street is brimming with anticipation of V's acquisition of Visa Europe, which increasingly seems likely to be a near-term event. While we believe the deal is largely discounted in shares already, the actual announcement of a transaction should be an incrementally positive catalyst. Our scenario analysis suggests that with just ~6% cost synergies and no revenue synergies, the deal would be neutral to F16/F17 non-GAAP EPS."
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 $70.69 yesterday.
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