On Wednesday, Visa Inc . (NYSE:V) saw its price target increased by Macquarie from $300.00 to $335.00, while the Outperform rating was reaffirmed. The adjustment follows Visa's robust fourth-quarter earnings, which surpassed expectations, propelled by vigorous revenue growth.
The financial services company reported strong results for the quarter, which Macquarie attributes to consistent top-line momentum. Visa's performance has been particularly noteworthy given the challenges it faced over the fiscal year 2024, including the impact of a slower market in China.
Visa has also provided guidance for fiscal year 2025, which anticipates continued growth. The forecast includes the expectation of a recovery in the Chinese market, which is seen as a positive turn after its previous drag on Visa's performance.
Macquarie's analyst cited Visa's optimistic outlook, including favorable early indicators for fiscal year 2025, as the reason for the firm's earnings upgrades. This positive trajectory has led to the increase in Visa's price target from the previous $300 to the new target of $335, maintaining the Outperform rating.
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