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·桑德勒周一开始对Visa Inc（纽约证券交易所代码：V）和万事达卡公司（纽约证券交易所代码：MA）进行增持评级的报道，理由是他们在全球支付领域的强势地位和持续增长的潜力。
Analyst Arvind Ramnani said that Visa and Mastercard are attractive businesses to own. They're both poised to benefit from:
分析师阿文德·拉姆纳尼表示，维萨和万事达卡是有吸引力的拥有企业。他们都准备从中受益：
- Scale
- Extensive FinTech ecosystem partnerships
- Exposure to sustainable secular growth within digital payments
- 规模
- 广泛的金融科技生态系统合作伙伴关系
- 接触数字支付领域的可持续长期增长
Both companies have significant tech investments, including in generative AI, which could drive upside to fundamentals, according to Ramnani.
拉姆纳尼表示，两家公司都有大量的科技投资，包括在生成式人工智能方面，这可能会推动基本面上涨。
Also Read: How Mastercard's Q1 Results Compare With Rival Visa: 3 Analysts Provide Their Takes
另请阅读：万事达卡第一季度的业绩与竞争对手Visa相比如何：3位分析师发表了看法
Mastercard's Growth Drivers
万事达卡的增长驱动力
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.
拉姆纳尼预计，万事达卡今年将实现11.0％的收入，到25财年收入增长12.7％以上。他还预计，该公司将在未来三年中报告青少年每股收益的中高增长。
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认为万事达卡的增长有几个驱动力，包括其强劲的支付网络收入增长以及增值服务和解决方案的扩展。万事达卡的年交易量为9万亿美元，庞大的TAM超过250万亿美元，完全有能力利用现金交易的转变以及新服务和技术产品的增长，维持利润扩张并颠覆传统的支付方式。
Visa's Growth Drivers
Visa的增长驱动力
Similarly, Ramnani believes Visa can drive revenue growth of 10.7% and top-line/bottom-line margins of +11%/+12%.
同样，拉姆纳尼认为，Visa可以推动收入增长10.7％，收入/利润率为+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的增长动力包括其数据处理、服务和国际部门。其基础产品的年交易量约为15万亿美元，TAM超过250万亿美元。在广泛的金融科技生态系统合作伙伴关系的支持下，Visa的增长预计将受到新流量、增值服务和国际增长的推动。拉姆纳尼预计，Visa将通过持续的执行和新兴技术的效率来维持其营业利润率的扩大，这有可能为该股释放更多价值。
Visa and Mastercard Ratings
维萨和万事达卡评级
- 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.
- 拉姆纳尼开始对Visa股票进行保险，目标股价为322美元，增持评级。
- 他开始对万事达卡进行保险，目标股价为531美元，增持评级。
- Visa和万事达卡都有大量未开发的潜在市场（TAM），潜在机会超过255万亿美元，尤其是在存在45万亿美元TAM的消费者支付方面。
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.
拉姆纳尼对Visa和万事达卡的看涨前景凸显了在GenAI等创新技术和两家公司对其业务的战略投资的推动下，全球支付行业持续增长和价值创造的潜力。
Photo: In Green via Shutterstock
照片：来自 Shutterstock 的 In Green
译文内容由第三方软件翻译。