Wedbush is bullish on Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA) after the credit card networks' quarterly reports. Wedbush's Moshe Katri maintained an Outperform on Visa with a price target lifted from $150 to $162. Visa has multiple growth and scale catalysts as it exits its first-quarter report, including the rise of electronic payments at the expense of cash and checks; favorable European regulations; volume growth from mobile payments; and ACH-based revenue growth opportunities, according to Wedbush. Mastercard similarly reported a top-and-bottom-line beat in a fourth-quarter print highlighted by 15-percent year-over-year revenue growth, 15-percent incentive growth, 15-percent growth in domestic assessments and 13-percent growth in cross-border volume fees, Katri said in a Thursday note.
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