Visa Inc (V) Management Meeting Causes Bullish Response from Piper Jaffrey Analyst
Analyst Jason Deleeuw of Piper Jaffray recently met with the CEO and head of investor relations of Visa Inc (NYSE:V).
The analyst came away from the meeting with various take away. First, the analyst believes the recent agreement with PayPal “should meaningful reduce fiction for all parties and over time, drive more debit/credit volume to visa and its bank issues from ACH.” Second the analyst identifies catalysts in the cost/revenue synergies of Visa Europe as well as increased cross-border volume growth, which should only improve in the next 1-3 years. Overall, the analyst believes Visa is making he right decision by jumping on the electronic payment bandwagon, which should result in long term growth.
Deleeuw reiterates his Overweight rating on the stock with a price target of $84.
According to TipRanks, Jason Deleeuw has a 67% success rate recommending stocks with an average return of 4.6% per recommendation.