Piper Jaffray Remains Bullish on Visa (V) Following 4Q Report
Piper Jaffray analyst, Jason Deleeuw reiterated an Overweight rating and $191.00 price target on Visa (NYSE: V) following the company's 4Q earnings report. Visa reported solid FY 4Q18 results and provided a strong FY 2019 guidance outlook driven by the ongoing secular growth of electronic payments and continued solid macro payment volume trends.
Revenue for the quarter was essentially in-line, while EPS of $1.21 beat consensus of $1.20 aided by slightly lower than expected client incentives and tax rate. Payment volume growth of 11% was in-line with the prior quarter, but would have modestly accelerated ex China.
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Shares of Visa closed at $137.00 yesterday.