- Analysts mostly hailed Visa Inc's (NYSE:V) Q1 FY22 results by raising their price targets on the stock.
- Raymond James analyst John Davis raised the price target to $281 from $265 (36.3% upside) and maintained an Outperform.
- Visa's Q1 print included better than expected results across the board as well as an increased FY22 outlook that should send estimates higher.
- The analyst believes the updated guidance is "overly" conservative.
- Morgan Stanley analyst James Faucette raised the price target to $283 from $280 (37.3% upside) and reiterated an Overweight.
- He is encouraged by management's confidence in pulling forward assumptions around cross-border travel, which they now expect to return to 2019 levels by year-end 2022 versus their previous expectation for mid-2023.
- A faster travel recovery and faster cross-border e-commerce growth combine to improve Visa's prospects for faster revenue and EPS growth.
- Piper Sandler analyst raised the price target to $283 from $275.
- Baird analyst David Koning lowered the price target to $290 from $305 (40.7% upside) and reiterated an Outperform.
- The analyst said he likes the stock and views the valuation as compelling at ~25X C2023E EPS given EPS growth is likely 15%+ for the next several years and nicely above S&P.
- Wedbush analyst bumped up the price target to $270 from $240 (31% upside).
- Price Action: V shares traded higher by 4.77% at $215.99 in the premarket session on the last check Friday.
