Deutsche Bank Starts Visa (V) at Buy; Implementing A New Strategy in A Post-Durbin World

Deutsche Bank initiates coverage on Visa (NYSE: V) with a Buy. PT $107.00.

Deutsche analyst says, "With the final rules of Durbin on the table, we believe Visa is implementing a growth strategy to capitalize on the new regulation and benefit from the secular shift to electronic payments. Resulting from the Durbin Amendment, we believe too much noise is made over the potential loss of Visa’s PIN debit revenue, which in our worst case scenario would only cause a 1-2% hit to top-line results (well within FY12 guidance). As Visa’s strategy becomes better understood, we expect Visa’s multiple to continue to expand."

For more ratings news on Visa click here and for the rating history of Visa click here.

Shares of Visa closed at $84.99 yesterday.

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