Visa initiated with a Buy at Loop Capital

As previously reported, Loop Capital initiated coverage of Visa (V) with a Buy rating and $387 price target as part of a broader research note on FinTech Payments. Investors have been pricing in a slowdown in revenue growth across the payment space as well as competition worries, though the concern regarding disruption of payment flows from stablecoin adoption is overblown and regulation is unlikely to materialize regarding the CCCA and a US based credit card 10% APR cap, the analyst tells investors in a research note. Loop adds that Visa could also see upside related to FX volatility revenue returning, boosting yields.