Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Visa Gains As Sand Piper Upgrades Citing Valuations, Recovery In Spending   

Published 07/06/2021, 13:44
Updated 07/06/2021, 13:44
© Reuters.

© Reuters.

By Dhirendra Tripathi

Investing.com -- Visa (NYSE:V) shares were up by more than 1% in premarket trading Monday following an upgrade by Piper Sandler for reasons ranging from cheaper valuations to quicker recovery in the U.S. economy.

Analyst Christopher Donat upgraded the stock to ‘overweight’ from ‘neutral’ with a target of $260, an almost 13% hike from the stock’s close on Friday.

Donat said out that the stock looked cheap relative to Mastercard (NYSE:MA), which has outperformed Visa over the past year.

The analyst pointed out that Visa was U.S.-focused and quicker recovery in the world’s largest economy as compared to the rest of the world could flip the valuation dynamics for the world’s largest credit card issuer.

The recovery in the U.S. has been fast, thanks to more than half the population having been vaccinated. Most business has opened up, and barring a few sectors like airlines and cruises, spending is mostly back to pre-pandemic levels.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.