Nomura Securities Starts Visa (V) at Buy; The Nimble Giant

Nomura Securities initiates coverage on Visa (NYSE: V) with a Buy. PT $119.00.

Nomura analyst, Bill Carcache, said, "While the Durbin amendment dealt a blow to Visa’s ability to profit from its dominance in US debit, the company’s long-term growth prospects remain attractive. Visa benefits from best-in-class 60% operating margins. While 2012 may prove challenging as higher volume and support incentives limit margin expansion, we believe it is already factored into estimates. Our FY’12 and FY’13 EPS ests are $5.86 and $6.80, respectively. Our px tgt implies ~17.5x 2013 estimated EPS and ~10.3x 2013 estimated EBITDA."

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 $96.92 yesterday.

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