Venture
from24/7 Wall St.
3 days agoWall Street Backs Visa With New Buy Rating and $387 Price Target
Loop Capital initiated coverage of Visa with a Buy rating and a $387 price target, citing strong network performance and revenue growth.
According to Bloomberg, the SEC probe followed a whistleblower's complaint and several short seller reports issued earlier this year. Dessouky thinks that the selloff following the news presents "a particularly attractive buying opportunity based on what we know today." The 5-star analyst contends that the absence of an SEC or company disclosure and no Form 8-K filing suggest that the probe may still be "an informal, information gathering exercise," rather than a formal investigation.