Visa, Mastercard Have $255T Opportunity, Analyst Says: Generative AI 'Could Drive Upside To Fundamentals'
Visa, Mastercard Have $255T Opportunity, Analyst Says: Generative AI 'Could Drive Upside To Fundamentals'
Piper Sandler initiated coverage Monday Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA) with Overweight ratings, citing their strong positions in the global payments landscape and potential for sustained growth.
派珀·桑德勒週一開始對Visa Inc（紐約證券交易所代碼：V）和萬事達卡公司（紐約證券交易所代碼：MA）進行增持評級的報道，理由是他們在全球支付領域的強勢地位和持續增長的潛力。
Analyst Arvind Ramnani said that Visa and Mastercard are attractive businesses to own. They're both poised to benefit from:
分析師阿文德·拉姆納尼表示，維薩和萬事達卡是有吸引力的擁有企業。他們都準備從中受益：
- Scale
- Extensive FinTech ecosystem partnerships
- Exposure to sustainable secular growth within digital payments
- 規模
- 廣泛的金融科技生態系統合作伙伴關係
- 接觸數字支付領域的可持續長期增長
Both companies have significant tech investments, including in generative AI, which could drive upside to fundamentals, according to Ramnani.
拉姆納尼表示，兩家公司都有大量的科技投資，包括在生成式人工智能方面，這可能會推動基本面上漲。
Also Read: How Mastercard's Q1 Results Compare With Rival Visa: 3 Analysts Provide Their Takes
另請閱讀：萬事達卡第一季度的業績與競爭對手Visa相比如何：3位分析師發表了看法
Mastercard's Growth Drivers
萬事達卡的增長驅動力
Ramnani expects Mastercard to deliver 11.0% this year and 12.7%+ revenue growth by FY25. He also expected the company to report mid-to-high teens EPS growth over the next three years.
拉姆納尼預計，萬事達卡今年將實現11.0％的收入，到25財年收入增長12.7％以上。他還預計，該公司將在未來三年中報告青少年每股收益的中高增長。
Ramnani sees several drivers for Mastercard's growth, including its strong Payment Network revenue growth and the expansion of Value-added Services and Solutions. With an annual transaction volume of $9 trillion and a vast TAM exceeding $250 trillion, Mastercard is well-positioned to capitalize on the shift away from cash transactions and the growth of new service and tech offerings, sustaining its margin expansion and disrupting traditional payment methods.
Ramnani認爲萬事達卡的增長有幾個驅動力，包括其強勁的支付網絡收入增長以及增值服務和解決方案的擴展。萬事達卡的年交易量爲9萬億美元，龐大的TAM超過250萬億美元，完全有能力利用現金交易的轉變以及新服務和技術產品的增長，維持利潤擴張並顛覆傳統的支付方式。
Visa's Growth Drivers
Visa的增長驅動力
Similarly, Ramnani believes Visa can drive revenue growth of 10.7% and top-line/bottom-line margins of +11%/+12%.
同樣，拉姆納尼認爲，Visa可以推動收入增長10.7％，收入/利潤率爲+11％/+12％。
Visa's growth drivers include its Data Processing, Services, and International segments. Its foundational offering has an annual transaction volume of around $15 trillion and a TAM exceeding $250 trillion. Visa's growth is expected to be driven by new flows, value-added services, and international growth, supported by its extensive FinTech ecosystem partnerships. Ramnani expects Visa to sustain its operating margin expansion through continued execution and efficiencies from new and emerging technologies, potentially unlocking further value for the stock.
Visa的增長動力包括其數據處理、服務和國際部門。其基礎產品的年交易量約爲15萬億美元，TAM超過250萬億美元。在廣泛的金融科技生態系統合作伙伴關係的支持下，Visa的增長預計將受到新流量、增值服務和國際增長的推動。拉姆納尼預計，Visa將通過持續的執行和新興技術的效率來維持其營業利潤率的擴大，這有可能爲該股釋放更多價值。
Visa and Mastercard Ratings
維薩和萬事達卡評級
- Ramnani initiated coverage on Visa stock with a price target of $322 and Overweight rating.
- He initiated coverage on Mastercard with a $531 price target and Overweight rating.
- Both Visa and Mastercard have significant untapped total addressable markets (TAM), with a potential opportunity of over $255 trillion, particularly in consumer payments where a $45 trillion TAM exists.
- 拉姆納尼開始對Visa股票進行保險，目標股價爲322美元，增持評級。
- 他開始對萬事達卡進行保險，目標股價爲531美元，增持評級。
- Visa和萬事達卡都有大量未開發的潛在市場（TAM），潛在機會超過255萬億美元，尤其是在存在45萬億美元TAM的消費者支付方面。
Ramnani's bullish outlook on Visa and Mastercard underscores the potential for continued growth and value creation in the global payments industry, driven by innovative technologies like GenAI and the companies' strategic investments in their businesses.
拉姆納尼對Visa和萬事達卡的看漲前景凸顯了在GenAI等創新技術和兩家公司對其業務的戰略投資的推動下，全球支付行業持續增長和價值創造的潛力。
Photo: In Green via Shutterstock
照片：來自 Shutterstock 的 In Green
譯文內容由第三人軟體翻譯。