Visa Stock Surges 5% on BofA Upgrade, Crypto Integration Seen as Growth Catalyst
Visa shares rallied sharply after BofA Securities upgraded the payment giant to Buy, citing decade-low valuations and dismissing crypto competition fears. The $382 price target implies 17% upside from current levels.
Analysts framed the stock's recent 12% decline as a buying opportunity for what they called "one of the world's best businesses." Market rotation into AI stocks had temporarily diverted attention from financial services stalwarts.
Notably, BofA characterized Visa's stablecoin initiatives as complementary rather than threatening. The timing coincided with Visa's announcement of new blockchain integrations and AI-powered commerce features.