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