In a report published Thursday, Oppenheimer analyst Glenn Greene reiterated an Outperform rating on MasterCard MA, and raised the price target from $640.00 to $675.00.
In the report, Oppenheimer noted, “At its Investor Day, MA reiterated its primary growth strategies and affirmed its long-term outlook for 2013-2015. MA anticipates an 11-14% constant currency (CC) revenue CAGR through 2015, and a CC EPS CAGR of 20%+. To date, results are tracking toward expectations with FY13 results expected toward the low end of the three-year range. MA anticipates FY14/15 to accelerate as the macro environment gradually improves. MA provided encouraging intra-quarter trends through August and experienced modest, albeit broad-based, acceleration relative to July. MA sees modest improvement in domestic consumer credit while commercial credit, domestic debit and rest-of-world volumes remain solid. We tweak estimates higher to reflect intra-quarter trends, maintain Outperform rating and raise our PT to $675 (from $640).”
MasterCard closed on Wednesday at $658.46.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorPrice TargetAnalyst RatingsData Processing & Outsourced ServicesGlenn GreeneInformation TechnologyOppenheimer
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in