Piper upgrades Visa to overweight as U.S. recovery gains steam

A pedestrian wearing a protective mask walks past Visa Inc. headquarters in Foster City, California.
David Paul Morris | Bloomberg | Getty Images

The fast start in U.S. vaccinations should help Visa close the gap between its stock and more international-focused competitors, according to investment firm Piper Sandler.

Analyst Christopher Donat upgraded the payment stock to overweight from neutral, saying in a note to clients over the weekend that the stock looked cheap relative to Mastercard, which has outperformed Visa over the past year and since the start of 2020.

The U.S. economy is recovering more quickly than some international markets, and that could help flip that dynamic, Piper Sandler said.

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