Visa price target raised to $315 from $309 at RBC Capital

RBC Capital raised the firm’s price target on Visa to $315 from $309 and keeps an Outperform rating on the shares after its Q2 earnings beat. Through all of the moving parts during the quarter that included a bad weather, leap year, and the timing of Easter, the quarter illustrates the durability of Visa’s business model, and its FY24 guidance implies an acceleration in the second half of the year, the analyst tells investors in a research note. Visa’s cross-border APAC volumes were slightly weaker than expected in the quarter, but e-commerce volumes were stronger than expected in Q2 and expected to offset the weakness in China, the firm added.