'Europe A Welcome Addition To The Family'; SunTrust Lifts Visa Price Target To $100

Visa Inc V could benefit from a stabilizing capital markets and currency impact. SunTrust Robinson Humphrey’s Andrew Jeffrey maintained a Buy rating for the company, while raising the price target from $85 to $100.

Positive Impact Of Europe

Terming Visa Europe as a “welcome addition,” analyst Andrew Jeffrey said that EPS accretion from this segment is estimated at around 8 percent for FY17. He added that this estimate could be marginally higher than consensus expectations.

Other Positives

“We are gaining confidence in Visa's underlying financial momentum considering stabilizing capital markets and FX,” Jeffrey wrote.

The revenue and EPS estimates for FY16 have been raised from $14,625m to $14,683m and from $2.73 to $2.76, respectively. The revenue and EPS estimates for FY17 have been raised from $16,132m to $16,264m and from $3.17 to $3.21, respectively.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorLong IdeasPrice TargetReiterationAnalyst RatingsTrading IdeasAndrew JeffreySunTrust Robinson Humphrey
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!