UPDATE: Morgan Stanley Initiates MasterCard at Overweight on Strong Fundamental Growth Potential

In a report published Wednesday, Morgan Stanley analyst Smittipon Srethapramote initiated coverage on MasterCard MA with an Overweight rating and $640.00 price target.

In the report, Morgan Stanley noted, “Fundamental growth potential remains strong and we believe MA can continue to generate 20%+ EPS growth for several years. Regulatory risks in Europe likely manageable, but may nevertheless cause volatility they unfold. Cash generation allows for continued share-buybacks.”

MasterCard closed on Tuesday at $584.41.