Visa's stock jumps to another record, and analysts see more room for gains

Posted April 21, 2017 10:02 am by Comments

Shares of Visa Inc. surged to another record high in morning trade Friday, in the wake of the credit card company’s fiscal second-quarter results. The stock ran up as much as 1.8% to an all-time intraday high of $92.80, before paring gains to be up 0.6% at $91.73. The stock had also closed at a record on Thursday, before reporting after the bell earnings and revenue that rose above expectations. No less than 17 of the 37 analysts surveyed by FactSet raised their stock price targets Friday, lifting the average to $101.81, or 11% above current levels. That helped lift rival MasterCard Inc.’s stock to record highs on Friday. Visa shares have now run up 18% year to date, while the Dow Jones Industrial Average has gained 4.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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