BMO Capital analyst Rufus Hone assumed coverage of Visa with an Outperform rating and $280 price target. The analyst believes investors underappreciate the durability of Visa’s revenue and EBIT growth. Despite continually strengthening its competitive position, the shares trade at a three-turn valuation discount to the long-term average, says BMO, which views Visa as a core holding within U.S. financials.
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