The Dow Jones industrial average has started to retreat from its 2019 peak. However, several components are up over 30%. The leader among these is Visa Inc. (NYSE: V), which is up 35.08% for the year to $178.23. The Dow is up 10.97% for the same period to 25,886.01.
Some comments about the company. From Morningstar:
Visa is a somewhat unique company in that it is a longtime, established market leader that still enjoys strong growth prospects. Despite the ongoing evolution in the payments industry, we think a wide moat surrounds the business and that Visa’s position in the global electronic payment infrastructure is essentially unassailable.
From Investor Place:
Visa dominates the card payments industry, with the largest global market share outside of China. But to sustain above-average growth, Visa needs to look to new frontiers. One area of opportunity is cross-border payments.
The two dominant credit card networks—already on a tear as digital payments become more popular—can find new ways to increase revenue by pushing more transactions through their systems, Deutsche Bank’s Bryan Keane wrote in a note to clients. As a result, Keane raised his price targets on both Mastercard (ticker: MA) and Visa (V). He already rated both stocks at Buy.