Jefferies thinks Visa U.S. debit revenue represents lower percent than DOJ claim

Jefferies estimates U.S. debit revenue represents about 11% of Visa’s net revenue, which the firm notes is “well below” the Department of Justice’s high-teens percentage estimate. Following recent checks with former DOJ, FTC, and antitrust experts, the firm says the judge assigned to the case is “viewed as a positive for Visa” and that a baseline expectation is for the case to take three to five years to be fully sorted. Jefferies keeps a Buy rating and $310 price target on Visa shares.