Visa Set to Reward Shareholders

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Oops!Something went wrong.Please try again later.Alan FarleyJune 9, 2021, 7:12 AM·2 min readOops!Something went wrong.Please try again later.

Dow component Visa Inc. (V) is trading just five points below April’s all-time high after bullish Credit Suisse commentary. The financial giant has risen about 7% so far in 2021 but could add substantially to those gains as international locations get vaccinated and open their borders to travelers.

 U.S. citizens alone could add significantly to payment volumes, with baby boomer accounts stuffed with discretionary capital earmarked for foreign destinations.

Slow International Recovery

The stock had a mixed 2020, booking an 11.7% return, but added just four points to the February 2020 peak by year’s end. It benefited from the rapid transition out of paper currency and into digital assets when the pandemic struck but transaction volumes still haven’t returned to 2019 levels. Americans are doing their part, with 2021 GDP surging above 6%, but the slow recovery in Europe and parts of Asia continue more...