Pacific Crest analyst Josh Beck offers a bullish take on Visa Inc (NYSE:V) on the heels of holding investor meetings with global head of IR, Jack Carsky. Beck reiterates an Overweight rating on V with a $92 price target, which represents a nearly 15% increase from where the shares last closed.

In these conversations, the analyst notes the focus of the meetings emphasized litigation, the PayPal Holdings Inc (NASDAQ:PYPL) Partnership, and Europe.

The U.S. Second Circuit Court rejected the merchant litigation settlement, calling it financially unfair and not beneficial to retailers. Visa and MasterCard Inc (NYSE:MA) had an accusation against them alleging improperly fixed credit and debit card fees.

Though not resolved yet, and the analyst acknowledges it remains “too early” to tell, Beck places a great deal of importance upon the earlier U.S. district settlement as an “anchor point,” elaborating, “We believe Visa is well positioned in Europe and expect future litigation outcomes to anchor on the previous settlement.

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Additionally, Beck recognizes the near-term risk with Visa’s PayPal partnership, but likes the long-term odds, finding “clarity” and a beneficial advantage that could serve to monumentally help Visa in the future. From the analyst’s standpoint, “We think the PayPal partnership may help V volumes, but could also pressure PYPL funding costs. We like the risk/reward in V and remain buyers.”

“Visa has endured a number of macro headwinds, which we believe have constrained growth. Moving forward, we see a lower probability of these headwinds persisting and see clarity around potential upside drivers, including Visa Europe synergies, recent wins, and strategic pricing opportunities,” he concludes.”

As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks, one-star analyst Josh Beck is ranked #3,456 out of 4,127 analysts. Beck has a 55% success rate and yields 4.2% in his yearly returns. When recommending V, Beck earns 15.1% in average profits on the stock.

TipRanks analytics demonstrate V as a Strong Buy. Based on 19 analysts polled in the last 3 months, 100% rate a Buy on V. The consensus price target stands at $91.17, marking a 13% upside from where the stock is currently trading.