Visa’s (V) earnings could benefit from the ongoing strength of international travel, Morgan Stanley said Friday in a note.
The investment firm’s expectations are based on management’s commentary on healthy travel volumes in Latin America, Europe, Central Europe, Middle East, and Africa and the US.
Visa’s international volumes showed healthy growth while US domestic spending witnessed a slowdown due to various transient factors, including a less favorable mix of weekends, softer performance in October and impacts from debit card regulations, the brokerage firm said.
Morgan Stanley revised the price target on V’s stock to $318 from $292 and reiterated overweight rating.