Jefferies & Co. has raised their price targets for both global payment technology companies Mastercard Inc(MA) and Visa Inc(V).
The firm has increased their price target for Mastercard from $507 to $552. This price suggests a 13% increase from the stock’s current price of 475.83, and a 32% increase over the stock’s YTD price of $372.82. The price target for Visa has been increased from $142 to $162, suggesting a 12% increase over the stock’s current price of $141.88, and a 37% increase over the stock’s YTD price of $101.53.
Jefferies analyst commented, “we feel good about our C3Q estimates for both (V may have a little more upside potential), though we acknowledge the stocks have had a great run over the past couple of months, so a solid print/outlook is likely discounted to a large extent already. We continue to view V and MA as core holdings.”
Mastercard and Visa shares were mostly flat during premarket trading Friday.
The Bottom Line
Shares of Mastercard (MA) have a .25% dividend yield, based on last night’s closing stock price of $475.83. The stock has technical support in the $460-$462 price area. The stock is trading near all-time highs. Shares of Visa (V) have a .62% dividend yield, based on last night’s closing stock price of $141.88. The stock has technical support in the $132-$135 price area. The stock is also trading near all-time highs.
Mastercard Inc(MA) and Visa Inc(V) are not recommended at this time, holding Dividend.com DARS™ Ratings of 3.4 out of 5 stars.
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