Visa shares hit an all-time high of $401, up about 12% over the past two weeks from $359 at the end of September and up 14% year to date. Key catalysts include approval from the People's Bank of China to set up a bankcard clearing institution in China and the move of Visa Direct's stablecoin to commercial deployment on Oct. 15. Baird and BMO Capital both raised their price targets. Visa reports fiscal fourth-quarter earnings on Oct. 27 and has raised its dividend every year since 2009, last year by 14% to $0.67 per share. The author still considers the stock a buy ahead of earnings, citing a forward P/E of 24.
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