Visa (NYSE: V) announced during November 2015 that it will be acquiring its former subsidiary for a consideration of $23.3 billion. Bernstein, sell side firm, expects that the deal is likely to be concluded by the end of April and will bring considerable upside potential along with. Following the comments by the Bernstein analyst, Lisa Ellis, the stock gained momentum towards the end of trading hours and rose 1.2% by the close. Bernstein expects the deal to come through without any hiccups and recommends investors to buy Visa at the current trading levels.

Before the news, Visa shares were down by 1% year to date and aggressive buying is expected as the current price provides a huge upside potential following the acquisition news. The fundamentals for the stock have been rather strong and it may be noted that for the past three years Visa has outperformed the S&P by about 15% on average. The company is likely to carry the momentum going forward and the acquisition will help in further strengthening the outlook.

Visa remains among the top picks at Bernstein for this year and Ms. Lisa Ellis believes that the stock would double in value by the end of 2020. The Visa Europe acquisition will boost the compounded annual growth rate of EPS by 19% at the very least. Price target remains well within reach following the news and will be achievable by 18% upside to current level; given the Q2 earnings and Europe acquisition remain in line without any multiple expansion or contraction.

The analyst kept Visa’s $90 price target and a strong buy rating as the stock is headed upwards ahead of the acquisition. The analyst opinion for Visa has 9 strong buy ratings, 19 buy ratings and 7 hold ratings. The stock closed the day at $77.63 as of Friday.