Visa Joins BofA’s Top US 1 List with $410 Target and Expands Stablecoin Settlements
On March 5, Bank of America reinstated coverage of Visa with a Buy rating and set a $410 price target, adding it to its top US 1 List. Meanwhile, Visa expanded its stablecoin settlement pilot with Bridge and Lead Bank and will power Pudgy Penguins’ upcoming Pengu Card debit offering.
1. BofA Coverage Resumption and $410 Price Target
On March 5, Bank of America added Visa to its US 1 List of top U.S. buy-rated stocks and reinstated coverage with a Buy rating and a $410 price target. This inclusion highlights BofA’s confidence in Visa’s long-term revenue growth potential and transaction volume expansion.
2. Stablecoin Settlement Pilot Expansion
Visa expanded its global card issuance product in partnership with stablecoin infrastructure platform Bridge, enabling issuers and acquirers to settle transactions on-chain via supported blockchain networks. Lead Bank joins as a participant in this pilot, enhancing Visa’s ability to intermediated stablecoin settlement.
3. Partnership on Pudgy Penguins Crypto Debit Card
Visa will power the upcoming Pudgy Penguins “Pengu Card” cryptocurrency debit offering, enabling users to spend digital assets through its payment network. This move extends Visa’s footprint in the NFT and Web3 commerce space, potentially driving new revenue streams.