Sterne Agee Remains Neutral on Visa Following Analyst Day

In a report published Friday, Sterne Agee analyst Greg Smith reiterated a Neutral rating on

. In the report, Sterne Agee noted, “Visa's analyst day provided a strong case for double-digit EPS growth for the company for many years to come based on the global secular growth in electronic payments, Visa's strong market position, and the company's strong balance sheet, which should support ongoing share buybacks. From a shorter-term perspective, results through May remain consistent and initial FY14 guidance was in line with expectations. While this is all good news, we think it is largely discounted in the stock already.” Visa closed on Thursday at $179.35.