FBR Capital Lifts PT on MasterCard (MA) to $575
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Price: $584.78 +2.57%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade MA Now!
FBR Capital raised its price target on Outperform-rated MasterCard (NYSE: MA) from $490 to $575, reflecting increased FY14 EPS estimates and expectation that the continued secular shift to electronic payments, combined with improving operating margin, will drive 20%+ EPS CAGR 2013-2015.
The firm redueced FY13E EPS from $25.52 to $25.10, reflecting lower processed transactions due to lapping of business wins, and increase FY14E EPS from $30.38 to $30.45, reflecting better operating margin.
"While MA trades at a relatively high P/E multiple, we note the high projected EPS growth and attractive operating margin despite global macroeconomic headwinds. In addition, we believe investors are becoming increasingly confident that regulatory/legislative mandated actions (SEPA, etc.), along with new technologies (EMV, etc.), will have a manageable impact on the business."
For an analyst ratings summary and ratings history on MasterCard click here. For more ratings news on MasterCard click here.
Shares of MasterCard closed at $518.40 yesterday, with a 52 week range of $356.00-$535.35.
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The firm redueced FY13E EPS from $25.52 to $25.10, reflecting lower processed transactions due to lapping of business wins, and increase FY14E EPS from $30.38 to $30.45, reflecting better operating margin.
"While MA trades at a relatively high P/E multiple, we note the high projected EPS growth and attractive operating margin despite global macroeconomic headwinds. In addition, we believe investors are becoming increasingly confident that regulatory/legislative mandated actions (SEPA, etc.), along with new technologies (EMV, etc.), will have a manageable impact on the business."
For an analyst ratings summary and ratings history on MasterCard click here. For more ratings news on MasterCard click here.
Shares of MasterCard closed at $518.40 yesterday, with a 52 week range of $356.00-$535.35.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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