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BofA Securities downgraded Visa (V) and MasterCard (MA) to Neutral due to limited upside potential to the valuation despite favorable business models. Visa has underperformed the S&P 500 by 23% in recent months.
$V $MA BofA downgrade on lack of valuation upside
A non-consensus call: BofA cuts ratings on both Visa $V and MasterCard $MA shares https://t.co/SmdgUWyXlE https://t.co/zhzRTIyXHw
$V $MA BofA cuts to Neutral Our analysis suggests modestly less confidence in V/MA’s ability to grow net revs >10% over the next 5 years. We still view V/MA as fairly reliable compounders, but potentially at a slower rate than pre-pandemic.
