Visa (V) PT Raised to $275 at Jefferies Despite In Line Guidance

Jefferies analyst Trevor Williams raised the price target on Visa (NYSE: V) to $275.00 (from $260.00) noting that the print looked solid with a ~9% EPS beat on revenue that was 3.5% above the Street consensus. Guidance was in line with expectations for high-teens growth in F3Q. This may appear light given QTD trends but is likely conservative.

The analyst reiterated a Buy rating, stating "The in-line guide for high-teens growth in F3Q may appear light given QTD trends, but we suggest not overcomplicating things: 3Q now sets up for another sizable beat w/ the guide embedding a significant decel in 2yr stacks from the trends given through April, and longer-term, the Street continues to underestimate an eventual recovery in cross-border travel".

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