J.P. Morgan Raises PT to $420 on MasterCard

A report from J.P. Morgan reiterates its Overweight rating and raises its price target from $380 to $420 on MasterCard MA. The report states, “MasterCard reports 3Q11 results BMO on Nov 2 – JPM/Street at $4.77/$4.82. The stock seems safe to own going into the print; we think volume and EPS upside is likely based on reported issuer metrics and MasterCard's own intra-quarter volume update provide last month”. MA closed yesterday at $325.68.