Visa (V) Price Target Raised by 9.1%: KeyBanc Analyst Maintains Strong Buy

KeyBanc's Josh Beck raised their price target on Visa (NYSE: V) by 9.1% from $275 to $300 on January 8, 2024. The analyst maintained their Strong Buy rating on the stock.

In their preview of names in the Financial Services (Credit Services) group for 2024, Beck highlighted that KeyBanc sees valuation support and estimate upside for Visa. The analyst also acknowledged that performance across the firm's coverage universe was mixed in 2023, with downbeat sentiment affecting stock performance for much of the year. However, Beck noted that there were signs of improvement in the segment's performance in the fourth quarter of 2023.

Additionally, on January 8, 2024, Beck made adjustments to other names in their portfolio. They raised their price target on Alkami Technology Inc by 23.8% from $21 to $26, maintaining their Strong Buy rating. Similarly, the analyst raised their price target on Robinhood Markets Inc by 16.7% from $12 to $14, also maintaining their Strong Buy rating.

According to data from WallStreetZen, KeyBanc analyst Josh Beck is ranked in the top 2% out of 4,442 Wall Street analysts. Beck has an average return of 8.3% and a win rate of 54.1%. They specialize in various sectors, including Real Estate and Communication Services.

Currently, 91.7% of top-rated analysts rate Visa as either a Strong Buy or Buy, while 8.3% see it as a Hold. No analysts recommend or strongly recommend selling the stock.

Analysts' consensus forecast for Visa's upcoming year suggests earnings per share (EPS) of $9.55. If this prediction holds true, Visa's next yearly EPS will see a 15.2% increase compared to the previous year.

In terms of stock performance, Visa's price has increased by 14.1% since its last quarterly report on September 30, 2023. On a year-over-year basis, the stock is up 20.1%. However, during this period, Visa has trailed behind the S&P 500, which has recorded a gain of 22.4%.

Visa Incorporated operates VisaNet, a transaction processing network that facilitates authorization, clearing, and settlement of payment transactions. The company also offers credit cards under various brands such as Visa, Visa Electron, Interlink, VPAY, and PLUS. Founded in 1958, Visa Inc. is headquartered in San Francisco, CA.

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WallStreetZen and Don Francis do not hold any positions in the companies mentioned in this article. The information and statistics provided herein are presented for general informational purposes only and may not be accurate, complete, or up-to-date. It should not be interpreted as a recommendation to buy or sell any stocks and should not be solely relied upon for making investment decisions. It does not take into account your financial situation or risk profile. All investors should conduct their own investment due diligence before buying a stock. WallStreetZen expressly disclaims any liability for the accuracy, reliability, or completeness of the analysts' information, price targets, ratings, or opinions.