Visa (NYSE:V) reiterated Hold from Buy, target lowered to $78 from $83, at Citigroup. The stock closed yesterday at $75.18 on volume of 6,120,000 shares, below the average daily volume of 6,564,268.
In the past 52-weeks, shares of Visa have traded between a low of $65.35 and a high of $97.19 and are now at $75.18, which is 15% above that low price.
Visa is currently below its 200-day moving average (MA) of $82.48 and should find support at its 50-day MA of $74.51. In the last five trading sessions, the 50-day MA has fallen 0.79% while the 200-day MA has risen 0.16%.
Visa Inc. operates a retail electronic payments network and manages global financial services. The Company also offers global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.