Visa (V) shares rallied significantly on Friday, closing up over 6% at approximately $345. The surge was primarily driven by an upgrade from Bank of America.
BofA analysts dismissed concerns that stablecoins threaten Visa’s business. Instead, the bank framed stablecoins as a potential long-term catalyst for growth. Visa continues to integrate rails for global payouts.
This strong performance occurred while the broader market, especially the technology sector, faced downward pressure. The rally featured higher-than-average trading volume, signaling strong investor interest and a positive reaction to the upgrade. This upward momentum followed a recent period of stock underperformance, suggesting a shift in investor sentiment.