Piper Sandler Initiates Visa Inc. (V) With Overweight Rating on Payments Strength

Visa Inc. (NYSE:V) ranks among the best fintech stocks to buy as digital payments volume surges. On June 30, Piper Sandler began coverage of Visa Inc. (NYSE:V) with an Overweight rating and a $394 price target. The firm initiated a review of the payments and consumer finance division (which includes Visa) with a “selectively constructive” outlook. According to Piper Sandler, Overweight-rated equities provide “durable” network utilization, consumer engagement, credit management, capital returns, business leverage, or earnings “scaling into share appreciation without requiring broad multiple expansion.”

Piper Sandler also noted that although projected earnings “remain resilient across much of our coverage,” valuation adjustment in the category “has been broad.”

Furthermore, on June 25, Visa Inc. (NYSE:V) introduced Visa Destinations, a mobile travel platform currently available in 10 cities, including Paris, London, and Dubai.

The platform gives Visa cardholders access to customized travel experiences, tour guides, and suggestions in the food, entertainment, cultural, hospitality, wellness, shopping, and transportation areas.

Visa Inc. (NYSE:V) is a payment technology company operating in the United States and internationally. It operates VisaNet, a transaction-processing network that handles the clearing, authorization, and settlement of payments. The company offers its services under various brands, including PLUS, Visa, V PAY, Visa Electron, and Interlink.

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