Visa Inc. (NYSE:V) ranks among the best stocks for a couch potato portfolio.
Following the fiscal second-quarter results, Cantor Fitzgerald reaffirmed its Overweight rating and $400 price target for Visa Inc. (NYSE:V) on April 29
The payments giant posted net revenues of $11.23 billion, more than the Street’s expectation of $10.74 billion. The company’s adjusted earnings per share came in at $3.31, exceeding the consensus forecast of $3.10. During the quarter, consumer spending bucked broader macroeconomic worries amid heightened tensions in the Middle East, while payment volume increased.
In a post-earnings call, CEO Ryan McInerney stated that Visa Inc. (NYSE:V) was keeping a careful eye on the situation in the region. The company claimed that a number of factors, including increased commercial travel volumes and stronger U.S.-bound demand associated with the FIFA World Cup, would offset the decline in cross-border travel. At the same time, Visa Inc. (NYSE:V) finance chief Chris Suh told Reuters that the company is actively investing in organic growth and buyouts, with share repurchases proving Visa’s “ability to have a balanced capital allocation strategy where we return excess free cash flow to clients.” Visa Inc. (NYSE:V) is a digital payments technology company that operates a global payment network, connecting consumers, merchants, and financial institutions to facilitate electronic transactions.