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Banking, finance, and taxes

Quiet Period Ends: Visa Analysts Unleash The Hounds (V)

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By Douglas A. McIntyre Published
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The quiet period has ended for Visa Inc. (NYSE: V) after its IPO.  The underwriters have thus initiated their coverage ratings this morning on the credit card payment processing company.  Shares of Visa have risen by about 40% since its IPO.

These are not yet all of the calls that will be out this morning, but these are the coverage initiations seen so far early this Monday morning:

  • SunTrust Robinson Humphrey at Buy;
  • Goldman Sachs at Buy with $90 target;
  • UBS at Buy;
  • JPMorgan at Overweight;
  • Citigroup at Hold with $78 target;
  • Credit Suisse at Neutral;
  • Morgan Stanley at Equal-Weight with $75 target;

Prior to the quiet period ending, some brokerage firms were able to initiate coverage in the prior weeks ahead of the underwriters:

  • Keefe Bruyette Woods at Outperform;
  • Cowen & Co at Outperform;
  • Deutsche Bank at Buy;
  • Stifel Nicolaus at Buy.

Visa is also set to report earnings today, and a conference call will be held at 5:00 PM EST.

Jon C. Ogg
April 28, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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