Oppenheimer Reiterates Visa (V) Outperform Rating

Oppenheimer analysts Glenn Greene, John Wharton and Cristopher Kennedy reiterated their Outperform rating and price target of $100 for shares of Visa Inc. Visa Inc. (NYSE: V).

The analysts praised Visa for its "business model and a strong management team" and noted its internationally respected brand name, its acceptance network and the company's processing infrastructure as keys to its success.

They said February saw an improvement in volume and cross border trends.

The Oppenheimer analysts wrote, "we believe Visa is well-positioned to benefit from expanding consumer spending, the secular trend toward electronic payments and from expanding international card usage/merchant acceptance. In addition we believe the company's internal growth initiatives should drive incremental growth in coming years. As such we believe Visa will report strong growth, leverage its global infrastructure and grow EPS 20%+ in coming years."