Visa price target raised to $250 from $225 at Wells Fargo

Wells Fargo analyst Donald Fandetti raised the firm’s price target on Visa to $250 from $225 and keeps an Overweight rating on the shares. Following meetings with head of IR Jennifer Como at the Wells TMT Summit, Fandetti continues to believe Visa is becoming even more entrenched in the global money movement ecosystem with their new products, making it even more difficult to disintermediate them in any meaningful way, the analyst tells investors in a research note. The analyst thinks Visa can still deliver 20% EPS growth for the foreseeable future.