MasterCard (MA) PT Raised to $164 at Piper Jaffray
Piper Jaffray raised its price target on MasterCard (NYSE: MA) to $164.00 (from $161.00) while maintaining a Overweight rating after the company beat consensus revenue estimates by 3.5% and posted adjusted EPS of $1.34 vs. consensus of $1.23.
Analyst Jason Deleeuw noted strong currency neutral revenue growth of 17% (18% reported) was driven by solid purchase/cross-border volume growth of 11%/15% vs. 9%/14% in 2Q.