BUZZ-Street View: Visa's growth intact as consumers weather macro headwinds

Reuters04-24

** Visa's second-quarter results sailed past Wall Street estimates on Tuesday, as consumers shrugged off worries of a slowing economy to swipe cards on everything from travel to dining out

** The company maintained its outlook for full-year revenue and profit

** Shares of the world's largest payments processor climb ~3% in premarket trading

AS SPENDING HOLDS UP, SO DOES VISA'S GROWTH

** KBW ("Outperform," PT: $325) says results are tracking in line with expectations, which is a positive due to concerns during Q2 that full-year targets may prove to be too high

** J.P.Morgan ("Overweight," PT: $302) says Visa overcame concerns to post revenue ahead of estimates with management guiding to consumer health as being relatively stable

** "Visa’s significant scale continues to support stable, diversified compounding growth even as volume growth normalizes somewhat below historical levels" - Brokerage

** TD Cowen ("Buy," PT: $320) says Q2 results were "solid" and reflected broad stability in payment volumes and showed no identifiable changes in consumer behavior

** Jefferies ("Buy," PT: $325) says it expects reiterated FY24 revenue forecast to drive some relief to the stock, adding that strong e-commerce volumes are helping offset weaker Asia-Pacific travel

** RBC Capital Markets ("Outperform," PT: $315) says Q2 results show the durability of Visa's business with strong e-commerce trends and cross-border volumes driving growth

** Wedbush ("Outperform," PT: $300) says Q2 results came ahead of expectations on improving payment volumes in the key U.S. market and strong e-commerce performance

(Reporting by Manya Saini in Bengaluru)

((Manya.Saini@thomsonreuters.com))

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