Jefferies: Metrics for Visa Appear Encouraging

According to a research report from Jefferies this morning, April and May volume and transaction metrics for Visa

show steady growth. Jefferies explained, “V had said on the 5/2 earnings call that thru 4/28, US credit volume growth was +11%. Today's 8-K indicated the full month of April was +8%, a more significant revision than we would have expected, and which we will seek more color on.. For May, US credit volume growth of +10% showed acceleration vs. the final April figure, and was steady with March quarter (adjusted for Leap Year).” Visa closed yesterday at $120.28 as Jefferies maintains its Buy rating and PT of $142.