Credit card issuer Visa Inc. ( V ) on Tuesday saw its price target and earnings estimates raised by analysts at Goldman Sachs.
The firm said it boosted its price target from $110 to $114, suggesting a higher 11% upside to the stock's Friday closing price of $102.48.
Goldman also maintained its "Conviction Buy" List rating on Visa while raising its estimates through 2012, citing recent funding to its escrow litigation account. The analyst now expects 2012 earnings of $6.04 per share (up from $5.87), 2013 earnings of $7.04 per share (up from $6.80), and 2014 of $7.82 (up from $8.10).
Visa shares rose 52 cents, or +0.5%, in premarket trading Tuesday.
The Bottom Line
Shares of Visa ( V ) have a .86% dividend yield, based on Friday's closing stock price of $102.48. The stock has technical support in the $95 price area. The stock is trading near all-time highs and have little overhead resistance.
Visa Inc. ( V ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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