Goldman Sachs Downgrades MasterCard (MA) to Neutral On Valuation

Goldman Sachs downgraded MasterCard (NYSE: MA) from Buy to Neutral and lowers their price target from $400 to $380 citing valuation.

"We see near-term risk from the tepid European backdrop, currency exposure and an increasingly competitive US debit landscape," the firm said. "In addition, we think that ongoing litigation concerns will likely limit further multiple expansion given the lack of a bank-funded litigation escrow reserve."

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 $348.83 yesterday.

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