TD Cowen Starts Visa (V) at Buy, 'The Name You Know, And It Remains So'

TD Cowen analyst Bryan Bergin initiates coverage on Visa (NYSE: V) with a Buy rating and a price target of $320.00.

The analyst comments "V boasts a durable, high-margin business built on the leading scale of its global payments networks within a $45Tn consumer spend market that we believe retains healthy runway for digital payments penetration. Active investments to raise exposure to New Flows has expanded its addressable payment volume significantly, with V pursuing an incremental $200Tn via non-traditional use cases across B2B, B2b, G2C, B2C, and P2P payments. We believe its consumer payments business supports a mid- to high-single-digit growth trajectory, which is supplemented by New Flows and VAS to drive sustainable high-single to low-double-digit net revenue growth at rising scale. The benefits of its broad network, which drive attractive incremental unit economics and an established base yielding low capital intensity, position it well for sustained EBIT margin expansion while shareholder-friendly capital allocation priorities support a low-teens EPS growth algorithm."

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 $276.72 yesterday.

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