Visa price target raised to $398 from $295 at Raymond James

Raymond James analyst John Davis raised the firm’s price target on Visa (V) to $398 from $295 and keeps an Outperform rating on the shares. Visa reported “solid” Q3 results that featured 4% adjusted EPS on 3% net revenue upside vs. the Street, while U.S. payments volume accelerated 400 basis points in July compared to June amid “resilient” consumer spend, the analyst tells investors in a research note. While Stablecoin concerns could limit near-term multiple expansion, estimates are biased higher, and the firm sees no sign of low-teens EPS growth slowing anytime soon.