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UPDATE: Goldman Sachs Upgrades Visa to Conviction Buy on Secular Transaction Growth

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Goldman Sachs upgraded Visa (NYSE: V) from Buy to Conviction Buy and raised the price target from $160 to $188.00.

Goldman Sachs commented, "Our high conviction on V shares is two pronged and centers on (1) the under-appreciated growth contribution from international and online and mobile commerce (E/M commerce) expected to add to its long-term transaction volume growth; a revenue driver that is now explicitly factored into our revised estimates based on number of cardholders and monthly usage assumptions; and (2) its significant potential for increased capital allocation with annual free cash flow of $5 bn+ through our forecast period, V's options are significant and should add another turn to valuation of the shares."

Visa closed at $159.36 on Tuesday.

Latest Ratings for V

DateFirmActionFromTo
Mar 2015Keefe Bruyette & WoodsMaintainsOutperform
Jan 2015CitigroupMaintainsBuy
Jan 2015FBR CapitalDowngradesOutperformMarket Perform

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Posted-In: Goldman SachsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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