Credit card issuer Visa Inc. (V) on Thursday saw its shares removed from Goldman Sachs’ prestigious “Conviction Buy” List.
The firm said the move was a valuation call, as the stock has surged 47% higher over the past 12 months. Goldman maintained its $135 price target on the shares, which suggests a 15% upside to the stock’s Wednesday closing price of $117.53.
Visa shares fell 56 cents, or -0.5%, in premarket trading Thursday.
The Bottom Line
Shares of Visa (V) have a .75% dividend yield, based on last night’s closing stock price of $117.53. The stock has technical support in the $113-$114 price area. The stock is trading near the all-time high price levels of $125 a share.
Visa Inc. (V) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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