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UPDATE: Daiwa Securities Downgrades Visa (V) to Outperform (3)

August 16, 2022 3:31 AM EDT
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Price: $213.79 +0.97%

Rating Summary:
    34 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 5 | New: 0
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(Updated - August 16, 2022 5:16 AM EDT)

Daiwa Securities analyst Kazuya Nishimura downgraded Visa (NYSE: V) from Buy (2) to Outperform (3) with a price target of $225.00 (from $230.00).

The analyst comments "We lower our investment rating one notch from 2 (Outperform) to 3 (Neutral) and set our 12-month target price at $225 (previously $230). Our new price objective translates to just under 27X our FY23 EPS estimate, or a relative P/E of 1.53X vs. the S&P 500. The firm continues to offer an upbeat growth scenario against the backdrop of a rebound in cross-border travel, but with border restrictions now almost fully lifted with the exception of some parts of Asia, we see reduced scope for earnings to surpass market expectations going forward. As such, we downgrade our stance to Neutral for now. That said, we continue to highly rate the firm’s medium/long-term growth prospects."

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 $216.42 yesterday.


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