Nomura Securities Starts MasterCard (MA) at Buy; Sitting in Pole Position

Nomura Securities initiates coverage on MasterCard (NYSE: MA) with a Buy. PT $500.00.

Nomura analyst, Bill Carcache, said, "MasterCard is distinctly positioned to benefit, particularly given its outsized exposure to faster-growing international markets and relatively low exposure to US debit. We believe the company is poised to gain from issuers pushing credit, as well as expand PIN Debit market share post-Durbin. Our FY’12 and FY’13 EPS ests are $22.49 and $27.13, roughly 3% and 7% above consensus, respectively. Our Street-high px tgt is based on 18x estimated 2013 EPS and ~11x 2013 estimated EBITDA."

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 $371.28 yesterday.

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