Visa price target raised to $325 from $315 at UBS

UBS raised the firm’s price target on Visa to $325 from $315 and keeps a Buy rating on the shares. Visa’s net revenue is expected to exit fiscal 2024 with strong low double digit growth, which, after high single digit net revenue growth in Q1 and low double digit growth in Q2, suggests an acceleration into the 11%-12% organic FXN range exiting FY24, the analyst tells investors in a research note. The firm’s model suggests Visa’s incentives will exit FY24 growing low double digits or an increase of 0.4 basis points of payments volume year over year.