UPDATE: Stifel Nicolaus Raises PT to $505 on MasterCard

Stifel Nicolaus increases its price target from $440 to $505 on Buy-rated MasterCard MA on continued upside expected despite share price run-up. Stifel Nicolaus says, "Although MA shares recently hit another new high, we continue to see significant upside potential as strong spending trends, pricing initiatives, and market share gains drive EPS upside. We note that despite the considerable share price appreciation, MA shares only trade at 16.5x our new 2013 EPS estimate. Accordingly, we reiterate our Buy rating and increase our target price to $505 based on 19x 2013 EPS." MA closed at $439.85 on Friday.
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Posted In: Analyst ColorPrice TargetReiterationPre-Market OutlookAnalyst RatingsData Processing & Outsourced ServicesInformation TechnologyStifel Nicolaus
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