Will This Coverage Initiation Help Visa (V) Stock Today?

NEW YORK (TheStreet) -- Visa Inc. (V) shares had coverage initiated with an "outperform" rating by analysts at Pacific Crest on Tuesday.

The firm set a $241 price target on the shares.

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Visa is up 1.7% to $204.53 in trading today.

The firm sees the credit services company as being at the forefront of the mobile and electronic payment sector due to diversified investments and partnerships across the retail market.

"We are confident that in Visa's innovation portfolio spanning products, security, partnerships (e.g., Gap), and acquisitions will ultimately help expand digital penetration," the firm said.

"Unmatched scale ($25 trillion of payments and a $20 billion in investments over the past five years), a trusted brand (the most trusted online payments provider in our survey), and a broad tech portfolio place Visa in an elite position to enable the convergence of mobility and data-driven services across an omni-channel environment," analysts concluded.

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Separately, TheStreet Ratings team rates VISA INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate VISA INC (V) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

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