Goldman Sachs Upgrades MasterCard (MA) to Buy, Faster LT Transaction Growth
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Price: $569.29 +0.40%
Rating Summary:
43 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
43 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs upgraded MasterCard (NYSE: MA) from Neutral to Buy with a price target of $575.00 (from $500.00) citing stable global volume, and faster long-term transaction growth.
The analyst comments, "Although MA is exposed to the same trends and secular drivers as V, we believe that the positioning of the shares are somewhat differentiated given its higher exposure to credit (72% of global payment volume) and International positioning... The most significant change in our opinion and recommendation on the shares centers on our reduced concerns on its International exposure, in particular its footprint in Europe, where the resiliency of MA’s business in the region, including its cross-border results, has provided a positive source of growth..."
Revised 2012/2013/2014 EPS estimates are now set at $21.94/$25.83/$31.04 and now reflect a CAGR of 18.9%, up from their previous forecast of 14.4%.
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 $517.82 yesterday.
The analyst comments, "Although MA is exposed to the same trends and secular drivers as V, we believe that the positioning of the shares are somewhat differentiated given its higher exposure to credit (72% of global payment volume) and International positioning... The most significant change in our opinion and recommendation on the shares centers on our reduced concerns on its International exposure, in particular its footprint in Europe, where the resiliency of MA’s business in the region, including its cross-border results, has provided a positive source of growth..."
Revised 2012/2013/2014 EPS estimates are now set at $21.94/$25.83/$31.04 and now reflect a CAGR of 18.9%, up from their previous forecast of 14.4%.
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 $517.82 yesterday.
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