Morgan Stanley raised the firm’s price target on Visa (V) to $411 from $398 and keeps an Overweight rating on the shares. Visa’s unchanged fiscal year outlook continues to benefit from strong VAS momentum and healthy domestic and cross spending trends, says the analyst, who believes Visa should compound at least at the rate of its EPS growth in the low-teens, with modest multiple expansion as investors appreciate the durability of growth across various growth vectors.
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