Citi Initiates Coverage on Visa (V) with Buy Rating

Visa Inc. (NYSE:V) is one of the 10 Best Dow Stocks to Buy According to Wall Street Analysts. On October 23, Citi initiated coverage on Visa Inc. (NYSE:V), giving the stock a Buy rating with a $450 price target.

Citi’s analyst pointed out that Visa Inc.’s (NYSE:V) large network, strong position in payment processing, and high-value brand are “formidable moats” that make the company “highly defendable.”

Additionally, Citi’s analyst believes that solid ongoing trends in cross-border payments and the changes in pricing contribute to a positive outlook on Visa Inc. (NYSE:V).

Visa Inc. (NYSE:V) is an American multinational digital payments company that provides a wide range of payment products and payment processing to facilitate electronic payments in over 200 countries and territories.

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Disclosure: None. This article is originally published at Insider Monkey.