Piper Jaffray Expects Good FY 4Q14 Results for Visa

In a report published Monday, Piper Jaffray analyst Jason S. Deleeuw reiterated an Overweight rating and $265.00 price target on

. In the report, Piper Jaffray noted, “Visa remains our top payments sector pick ahead of its FY 4Q14 results after-market close on October 29. We believe Visa's FY 4Q14 results will show slightly better momentum driven by 1) a strengthening U.S. consumer backdrop and 2) our expectation for stable cross-border volume growth. Those two factors are the key drivers behind our revenue growth acceleration forecast for Visa, which will lap easier y/y cross-border volume growth comps starting in CY 2015. Surely global FX and macro headwinds are growing concerns, but we believe those concerns are most pronounced in Europe, which should only marginally impact Visa (Visa Europe is not part of Visa, Inc.). We tweak our FY 2015 revenue growth forecast slightly lower on growing FX headwinds, but maintain our EPS estimates (we believe our tax rate was a little high; more accretive share repurchases).” Visa closed on Friday at $204.98.