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In a mixed financial sector, Visa Inc (NYSE:V) is shining, according to analysts from Normura Instinet and Barclays, which rate the stock Buy and Overweight, respectively.
Visa posted strong third-quarter earnings on Thursday, with $0.86 EPS and $4.6 billion in sales. Management also reaffirmed guidance for approximately 20 percent sales growth in fiscal 2017.
Nomura Instinet’s Bill Carcache raised his price target from $105 to $120, and Barclays’ Darrin Peller upped his to $114.
“This quarter’s results once again showcase the strength of [Visa’s] business model,” said Carcache in a note.
Carcache also raised his EPS estimates for the next two years by four cents each, to $3.33 for 2017 and $3.92 for 2018.
Peller noted that EPS gains were driven by a broad mix of strengths, but notably pricing synergies in Europe and a favorable tax rate.
The company did face pressure from tough forex volatility comps, but Peller believes they will start easing.
Visa shares continued to reach all-time highs mid-day Friday, breaking past $100.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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