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Fly News Breaks for March 4, 2020
MA, V
Mar 4, 2020 | 06:46 EDT
MoffettNathanson analyst Lisa Ellis noted that Visa (V) and MasterCard (MA) shares are down 13% and 16%, respectively, in the past 10 trading days, which she views as a unique buying opportunity "particularly for longer-term holders able to stomach likely 2020 volatility." While COVID-19 will have a material negative impact on the networks' revenues, they both have broad discretion over their expenses and she believes they can flex expense growth to offset the revenue headwind, leaving Ellis to expect no impact to EPS growth in FY20 for either Visa or MasterCard. In a case where the coronavirus triggers a protracted economic downturn, the networks' businesses are more resilient to slowdowns in consumer spending than is often perceived, Ellis added in her note to investors. The analyst has a Buy rating and $240 price target on Visa shares and a Buy rating and $380 price target on MasterCard.
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