(CercleFinance.com) – Wells Fargo maintains its Outperformance recommendation and raises its price target from $225 to $250 for Visa shares.
“We continue to believe that Visa is becoming even more entrenched in the global money movement ecosystem with its new products,” the analyst begins.
Wells Fargo is confident ‘that the networks (V&MA) can still deliver ~20% EPS growth for the foreseeable future’.
“We believe that the increase in profits linked to the resumption of cross-border travel constitutes a good shock absorber in a scenario of recession”, continues the analyst who expects a smooth transition for the new CEO Ryan McInerney.
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