MasterCard (MA) Estimates, PT Trimmed at BofA/Merrill Lynch; 'Buy' Maintained

BofA/Merrill Lynch analyst Kenneth Bruce reiterated a Buy rating but lowered his price target on MasterCard (NYSE: MA) to $105.00 (from $112.00) following results last week which showed the dollar weighing on profits while underlying rends were healthy.

The firm is now lowering ’16 and ‘17 EPS estimates to $3.50 and $4.20, respectively from $3.85 and $4.50, mostly due to a more challenging macro backdrop in 2016 given the persistently strong US$.

The new price target reflects a 25x target PE on revised 2017 EPS forecast of $4.20.

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 $85.93 yesterday.

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