Citi analyst Ashwin Shirvaikar says Visa reported a solid quarter and that consensus estimates should go up "measurably" despite only modest updates to its existing fiscal 2023 outlook. While the beat in the quarter "was a good one and helps," the forward outlook is helped by a solid start to the March quarter, easing currency headwinds, the visibility into outside Russia growth after this quarter, the cadence of operating expense growth for the remainder of fiscal 2023 and capital return, the analyst tells investors in a research note. Citi keeps a Buy rating on Visa with a $265 price target.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on V: