UPDATE: Jefferies Raises PT on Visa on Global Shift to Electronic Transactions

In a report published Monday, Jefferies analyst Jason Kupferberg reiterated a Buy rating on Visa

, and raised the price target from $162.00 to $196.00. In the report, Kupferberg noted, “Visa is well positioned to benefit from the global secular shift from paper-based to electronic transactions. V aggressively reinvests in new growth initiatives (mobile, P2P, prepaid, e-commerce), turning potential competitive threats into opportunities. Early payments maturity cycle in key global markets provides V with a solid foundation for growth.” Visa closed on Thursday at $168.66.