11:26 AM EDT, 07/30/2025 (MT Newswires) -- Visa (V) is poised to see double-digit growth through next year due to a "well-diversified" mix and overall high travel demand, Morgan Stanley said in a Wednesday note.

US spending trends have been stable, with Visa's US volume growth up 6.8% in the quarter ended June 30, compared with 6% in the prior quarter, the analysts said.

Additionally, Visa's cross-border operations are also well-diversified as there is no region comprising over 25% of its total volume, Morgan Stanley said, adding that although currency and select scenarios are creating "regional variances," consumer travel demand remains robust.

"We think investors should look favorably on the relative stability of EPS growth, helped by significant contribution from resilient PCE, cross border, VAS, and New Flows," according to the note.

Morgan Stanley raised Visa's price target to $402 from $386 and maintained an overweight rating on the stock.

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