FBR Capital Upgrades Visa (V) to Outperform

FBR Capital upgraded Visa (NYSE: V) from Market Perform to Outperform with a price target of $260.00 (from $250.00).

Analyst Scott Valentin said, "We are upgrading shares of Visa to Outperform (from Market Perform) and raising our price target to $260 (from $250) based on: (1) the revenue-driven 4Q(Sep)14 EPS beat, (2) improving outlook for payments volume, and (3) FY(Sep)15 EPS guidance (mid-teens growth) indicative of continued strong business performance despite the assumed continuation of numerous operational headwinds (reduced currency volatility, strong U.S. dollar, depressed cross-border activity, Russian implementation of a national payment system, etc.). Should currency volatility remain at current levels and/or cross-border activity remain at quarter-to-date levels, FY(Sep)15 EPS should be higher. We increase our FY(Sep)15 EPS estimate to $10.42 (from $10.40) and establish an FY(Sep)16 EPS estimate of $12.05."

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 $214.66 yesterday.

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