Citi Starts Visa at Buy With $450 Target, Citing Defensible Payments Moat

Overview

• On October 23, Citi initiated coverage of Visa with a Buy rating and a $450 price target, describing its network, processing scale, and brand as formidable moats.
• The analyst pointed to sustained cross-border momentum and recent pricing adjustments as key supports for the investment case.
• Jim Cramer called Visa a "clockwork" company that "never misses" and said competition from stablecoins and blockchain presents a buying opportunity.
• Visa recently introduced a Trusted Agent Protocol with Cloudflare to verify AI agents in e-commerce after a sharp increase in AI-driven traffic.
• Publisher commentary in the coverage contrasted the bullish Visa thesis with promotions for AI stocks touted as offering greater upside.