Goldman Sachs (NYSE:GS) announced they've removed Visa (NYSE:V) of their "Conviction Buy List" in light of the current regulatory environment.
While the fee structure for bank debit cards has changed, that's not the real issue for Visa in Goldman's view, it's concerns over exclusivity and lack of clarity there that pushed Goldman to make the decision.
Goldman said, "While we think that the market sell-off on MA and V shares is overdone, we acknowledge that the near-term uncertainty on signature exclusivity keeps the wall of worry on these stocks in place until the final rules are made available in April 2011."
Visa was trading at $67.79, up $0.60, or 0.89 percent, as of 11:35 AM EST. Goldman has a price target on them of $93.
Friday, December 17, 2010
Visa (NYSE:V) Thrown Off Goldman's (NYSE:GS) Conviction Buy List
Labels:
Goldman Sachs,
Visa
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