In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Visa Inc (NYSE: V), with a price target of $160. The company’s shares opened today at $140.30, close to its 52-week high of $143.14.
Foresi said:
“: We continue our Foresi’s Fundamentals & Charts series, in which we look at our coverage universe periodically for an opportunity in names where the Fundamentals match up with the Technicals. We look this week at Overweight-rated V with a 12-month price target of $160. Fundamentally, we like Visa’s opportunity to capitalize on the global conversion of cash into credit, international opportunities, and digital payment tailwinds. Technically, V is in a solid upward channel.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 19.1% and a 82.8% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Visa Inc with a $158.21 average price target.
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Visa Inc’s market cap is currently $312B and has a P/E ratio of 35.49. The company has a Price to Book ratio of 11.20.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.
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