Visa Reports Strong Feb Volume Trends
Analysts at William Blair & Co reiterate their "outperform" rating on Visa (NYSE: V).
“Before the start of its investor day, Visa reported strong volume trends for February and reiterated its outlook for 2010 free cash flow in excess of $2 billion. The continued improvement in volume gives us confidence in our fiscal second-quarter EPS estimate of $0.90 (in line with consensus) and an upward bias to our fiscal 2010 EPS estimate of $3.80 (consensus is $3.80). We remain bullish on Visa’s shares, which were added to our March 2010,” the analysts mention.
Growth in V’s total processed transactions, US payment volume, US credit card payment volume, US debit card payment volume and cross-border volume on a constant dollar basis were higher in February than the January growth figures, the analysts add.
