Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Visa Inc (V – Research Report) today and set a price target of $160. The company’s shares opened today at $159.20, close to its 52-week high of $161.11.
“: We maintain our Overweight rating on V and our PT of $160*. Our OW rating is based on Visa’s opportunity to capitalize on global consumption, conversion of cash into card, int’l opportunities, and digital payment tailwinds. We believe investors will be focused on int’l performance in the period, cross-border volumes, and guidance updates. We note there is a heightened focus on consumer demand or global consumption given investor concerns regarding a potential future economic slowdown. Visa has guided to strong EPS growth for FY19. Visa’s earnings call is set for 5:00 PM ET on Wednesday, April 24th.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 22.0% and a 88.2% success rate. Foresi covers the Technology sector, focusing on stocks such as International Business Machines Corporation, Jack Henry & Associates, and Fidelity National Info.
Currently, the analyst consensus on Visa Inc is a Strong Buy with an average price target of $167.93, a 5.5% upside from current levels. In a report issued on April 11, Wells Fargo also reiterated a Buy rating on the stock with a $181 price target.
Based on Visa Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.51 billion and net profit of $2.87 billion. In comparison, last year the company earned revenue of $5.07 billion and had a net profit of $2.51 billion.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. Last month, Tullier Kelly Mahon, the EVP & GC of V sold 91,046 shares for a total of $14,229,579.
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