MasterCard (MA): Raising PT - Stifel
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Stifel analyst, Christopher Brendler, reiterated his Buy rating on shares of MasterCard (NYSE: MA) and raised his price target to $116 from $114 despite recently shifting his top pick to Visa (NYSE: V).
The analyst believes the strong results suggest MA may deserve a premium for its superior top line growth especially since MA is superior in terms of net revenue yield which may reflect more aggressive pricing and discipline on contract renewals.
The analyst still prefers Visa on valuation and multiple tailwinds, but he is increasingly confident in MA's organic top line growth and our above-consensus views. The new target price of $116 is based on a consistent 27x 2017 EPS.
Shares of MasterCard closed at $106.90 yesterday.
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