Nomura Raises Price Target on MasterCard (MA) To $611

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Nomura Securities reiterated a Buy rating on MasterCard (NYSE: MA) and raised its price target to $611.00 (from $500.00).

Analyst Bill Carcache made upbeat comments on the company after meeting with management, calling Mastercard a company that can meet growth targets in "any plausible economic scenario".

"We walked away from our meetings with even greater confidence in the strength and resilience of MA's earning power, and we maintain high conviction in the company's ability to continue to deliver EPS growth of ~18% even if we enter a severe global recession," said Carache.

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 $476.09 yesterday, with a 52 week range of $336.26-$494.51.

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