Visa (V), MasterCard (MA) Price Targets Raised at Goldman Sachs

Goldman Sachs maintained a Buy rating on Visa (NYSE: V) and raised its price target to $275.00 (from $250.00). MasterCard (NYSE: MA) was maintained a Buy with a new price target of $96 (from $92). Analyst James Schneider noted strong growth prospects.

"We are increasing our target multiples and therefore our price targets on Visa and MasterCard to reflect better growth prospects for three reasons: (1) Near term datapoints have improved, and cross-border volumes (a source of investor concern) have begun to recover; (2) Visa has stated it intends to raise prices in April 2015, which suggests to us that the pricing power for the payment networks remains intact; (3) China has announced its intention to open its payments market to foreign competition – while the timing and magnitude of this opportunity is unclear, we note every 10% of market share in China would drive the networks’ 5-year potential revenue CAGR higher by 1.1% - 1.2%," said Schneider.

For an analyst ratings summary and ratings history on Visa click here. For more ratings news on Visa click here.

Shares of Visa closed at $250.21 yesterday.

You May Also Be Interested In

• Boston Beer Company (SAM) PT Lowered to $325 at Jefferies
• Quest Diagnostics (DGX) PT Raised to $145 at Evercore ISI
• Halliburton (HAL) PT Raised to $52 at Wolfe Research