Cramer Begins Buying Visa (V)

Jim Cramer initiated a 300 share position in Visa (NYSE: V) today for his ActionAlertsPlus.com portfolio. He typically makes multiple buys in a stock, so I'd expect this is the first of many buys in Visa for Cramer's ActionAlertsPlus portfolio. He noted that wants to buy shares of Visa into the current weakness.

Below are some of Jim Cramer's reasons for buying Visa.

• Visa has a strong balance sheet with cash/share of $3.38 and only 1% of debt to total capital.
  
• Consumer use of debit and credit cards grows versus checks and cash, Visa will benefit from strong volume growth and 15% to 20% earnings growth.
  
• Visa's earnings will grow from price increases, cost cutting, share buyback and a bigger mix of debit growth (35% of total payments volume).

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Visa Inc. operates a retail electronic payments network.

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