In a report published Friday, Sterne Agee analyst Greg Smith downgraded the rating on Visa V from Buy to Neutral.
In the report, Smith noted, “We are downgrading Visa to Neutral from Buy as there is now limited upside relative to our prior $175 price target. We now view the shares as fairly valued and expect the shares to perform in line with the S&P 500 over the coming months. Our positive fundamental view on Visa remains unchanged as we still view the stock as the single best long-term way to play the secular growth in electronic payments. With that said, headline risks are incrementally more of a concern now.”
Visa closed on Thursday at $167.62.
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