Mizuho analyst Dan Dolev lowered the firm’s price target on Visa to $240 from $255 and keeps a Neutral rating on the shares. The analyst is concerned that consensus fiscal 2024 revenue estimates are “too lofty.” Consensus either contemplates an overly optimistic macroeconomic backdrop, continued elevated inflation in fiscal 2024, and/or an improvement in Visa’s capture of consumer spend, the analyst tells investors in a research note. The firm expects Visa’s 2024 revenue guide will fall short of consensus expectations.
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