President Donald Trump’s endorsement of the “Credit Card Competition Act” has put pressure on payment networks like Visa. Markets reacted with Visa shares dropping 4.7% and Mastercard falling 5.2%. The bill aims to provide merchants with lower-cost routing choices beyond Visa and Mastercard, challenging the card network model. Visa’s stock is up 3.6% over the past 52 weeks but down 6.3% year-to-date. Wall Street remains positive about Visa’s upcoming earnings, with analysts expecting a 14.18% year-over-year growth. All 36 analysts surveyed rate Visa a consensus “Strong Buy” with a mean price target of $403.09, implying a 22.5% upside from the current level.

Read more at Barchart: Trump Says Credit Card Swipe Fees Are ‘Out of Control.’ What Does That Mean for Visa Stock?