Evercore ISI lowered the firm’s price target on Visa (V) to $340 from $380 and keeps an In Line rating on the shares. Visa and MasterCard (MA) still offer strong long-term quality, but investor skepticism is rising as the market shifts focus from near-term execution to terminal growth and defensibility, the analyst tells investors. With multiples near cycle lows, the “setup is more attractive for patient holders, but near-term catalysts are lacking and the burden of proof is higher than it’s been in years,” the analyst added.
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