William Blair Comments on MasterCard (MA)
William Blair analyst Cristopher Kennedy reiterated an Outperform rating on MasterCard (NYSE: MA)
The analyst comments "We are moderating our 2024 and 2025 adjusted EPS estimates to account for March-quarter results ($0.06 per share of upside) and to incorporate incremental FX-related headwinds, which are expected to impact revenue by 1%-2% (versus no impact previously). Revenues in the June quarter are expected to grow at the high end of high single digits (versus our prior estimate of 13% growth), due to 2 points of FX-related headwinds. Importantly, management affirmed 2024 guidance on a currency-neutral basis. Our 2024 estimate goes to $14.27 (from $14.60) and our 2025 estimate goes to $16.50 (from $16.85); shares trade at 31 times our 2024 EPS estimate. We reiterate our Outperform rating."
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Shares of MasterCard closed at $441.10 yesterday.