Visa: Treat Any Pullback In Shares As A Gift [Seeking Alpha]
Discover Financial Services (DFS)
Last discover financial services earnings: 4/22 05:35 pm
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US:NYSE Investor Relations:
investorrelations.discover.com
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Source: Seeking Alpha
SummaryVisa's revenue model and US exposure positions it well against other payments companies, as well as other payments networks.We expect secular increase in non-discretionary spending in the next 6-12 months.Share buybacks remain safe for the company.We've seen this story with Visa (MATherefore, just as some may be eager to write its obituary ahead of the upcoming earnings, we would strongly caution against that. Having said that, we still may see a pullback in shares, but any such pullback should prove to be a gift to investors not even in the long run, but much sooner.Interestingly enough, many of the points we stated in our previous article, from October 3 (SeeArticleVisa, in our view, continues to fit that category, even under present circumstances. Below we (only moderately) adjust our valuation and state our key points:Valuation:When we compare Visa against its key competitors in the payments space (not only MA, Discover Financial Services (NYSE:DFSAXPGPNADSPYPLWUFLTKey Poin
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