Shares of Visa Inc. V, +1.27% rose 1.2% in afternoon trade Thursday, after Wedbush Morgan analyst Moshe Katri got a little more bullish on the credit card and payments company, citing a “host” of growth and scale catalysts. Katri reiterated his outperform rating while raising his price target to $162 from $150. The catalysts he expects include the “disintermediation of cash/checks by electronic payments,” increasing revenue opportunities from European regulations, “hyper-growth” in mobile payments, networks’ increased dominance in the payments ecosystem and automatic clearing house-related revenue growth opportunities. Katri also reiterated his outperform rating Mastercard Inc.MA, +0.48% and listed his stock price target to $235 from $220. The stock edged up 0.6%. Over the past 12 months, Visa shares have soared 25.8%, Mastercard shares have run up 27.5% and the Dow Jones Industrial Average DJIA, -0.01% has advanced 3.8%.
VISA Inc. shares were trading at $154.22 per share on Thursday afternoon, up $1.75 (+1.15%). Year-to-date, V has gained 17.09%, versus a 12.55% rise in the benchmark S&P 500 index during the same period.
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