V - Visa's Real Power Is Embedded In Long-term Secular Shift From Paper Currency: Analyst | Benzinga
Oppenheimer analyst Dominick Gabriele reiterated the Outperform rating on Visa Inc. (NYSE:V), with a price target of $297.
Per the analyst, the company’s cash and check opportunity remains vast.
Value-added-service (VAS) growth is likely to remain robust, while weakness in new flow growth in 1Q24 was largely due to one-time items and grow-over impacts, the analyst adds.
VAS is expected to grow above the consumer payments growth rate, and the total VAS growth spread is expected to be between open banking, risk, and advisory.
Overall, Gabriele highlights Visa’s powerful brand, vast global acceptance network, and strong business model.
According to the analyst, the company is well-positioned to benefit from the long-term secular shift from paper currency (cash/check) to plastic (electronic payments), consumer spending growth, and increased globalization.
The company has a strong franchise in the US and garners an increasing proportion of growth from international markets, noted the analyst.
He adds that Visa as ...