Piper Jaffray Lowers Visa's Price Target (V)

Piper Jaffray maintained its EPS estimates for Visa Inc (NYSE: V) despite troubling signs that the economic recovery is weakening. Piper analysts Robert Napoli, Jason Deleeuw, and Brian Hogan reiterated an Overweight rating for Visa.

The analysts believe that Visa still has a solid growth outlook, and still assume economic recovery will occur in 2010 and '11.

The analysts said, "Reiterate Overweight rating, but reducing our price target from $125 to $100 due
to the increased regulatory uncertainty."

Risks to the target price include, "Card spending slowdown, bank consolidation that results in loss of key customers,increased customer concentration/power that results in pricing pressures, regulatory/legislative action on interchange rates."

Visa is currently trading at $71.22.