Bank of America Merrill Lynch analyst Kenneth Bruce rates Visa a "buy," and on Thursday raised his price target for the shares to $180. The price target "is based on a 21x multiple to our 2014E EPS forecast of $8.55, at the higher-end of the company's historical multiple range," Bruce wrote.
The analyst said Visa's long-term performance justifies a significant premium for the stock over peers. "Despite an adverse regulatory environment and sluggish economic growth the past several years, V managed 30% EPS growth per annum, demonstrating its durable operating model and providing investors a defensive posture given the continued economic uncertainty."
Interested in more on Visa? See TheStreet Ratings' report card for this stock.
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