On Tuesday analysts at Goldman Sachs upgraded Mastercard Inc (MA) and raised its price target due to stable global volume and long-term transaction growth.
The analysts upgraded MA from “Neutral” to “Buy and raised its price target from $500 to $575. The new target is an +11% upside to Tuesday’s closing price of $517.82.
Goldman Sachs also revised Mastercard’s EPS estimates. The 2012, 2013, and 2014 EPS expectations are now $21.94, $25.83, and $31.04, respectively.
A Goldman Sachs analyst commented, “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…”
Mastercard shares were up $8.68, or +1.68%, during premarket trading on Wednesday. The stock is up 51% over the past year.
The Bottom Line
Shares of Mastercard (MA) have a .23% dividend yield, based on last night’s closing stock price of $517.82. The stock has technical support in the $500 price area. The stock is trading at all-time highs.
Mastercard Inc (MA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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