Oppenheimer raised the firm’s price target on Visa to $252 from $248 and keeps an Outperform rating on the shares. The firm has made a few model changes given spending trends seem to be moving in its forecast, with some gas benefit. Oppenheimer is still below consensus 2023/2024 EPS growth for virtually all peers. This quarter, Oppenheimer thinks a key focus for investors will be Visa’s 2024 guidance, likely to incorporate stable from Q4 2023 volume assumptions, but it finds this unlikely to materialize.
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