UBS Initiates Coverage on MasterCard (MA) with a Neutral; Areas of Strength, but Europe May Be a Challenge
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Price: $580.63 +1.18%
Rating Summary:
43 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
43 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS initiates coverage on MasterCard (NYSE: MA) with a Neutral rating. PT $439.
UBS analyst says, "Shares are +14% year-to-date, rebounding after a slow start to the year on worries over European macro and profit-taking following outperformance since 6/28/11 (+52% vs. the S&P 500 +6%) after a more favorable Fed Durbin debit decision. We think the best near-term setup to be long MA shares has passed, as the right (and the most difficult) time to be long was last spring/summer."
"Still an enviable model; Durbin Amendment should help debit—and credit: MA will likely continue to post strong top-line growth and margin expansion, given its scalable model and secular tailwinds. We expect Durbin to have positive impacts on the debit (share shift from Visa (NYSE: V) to MA/others) and credit businesses (banks more likely to push cardholders to higher interchange credit over debit)."
To See Ratings Summary & History on MA, Click Here
UBS analyst says, "Shares are +14% year-to-date, rebounding after a slow start to the year on worries over European macro and profit-taking following outperformance since 6/28/11 (+52% vs. the S&P 500 +6%) after a more favorable Fed Durbin debit decision. We think the best near-term setup to be long MA shares has passed, as the right (and the most difficult) time to be long was last spring/summer."
"Still an enviable model; Durbin Amendment should help debit—and credit: MA will likely continue to post strong top-line growth and margin expansion, given its scalable model and secular tailwinds. We expect Durbin to have positive impacts on the debit (share shift from Visa (NYSE: V) to MA/others) and credit businesses (banks more likely to push cardholders to higher interchange credit over debit)."
To See Ratings Summary & History on MA, Click Here
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