UPDATE: Goldman Sachs Reduces PT to $475 on Mastercard on Lower Multiple

Goldman Sachs reduces its price target from $500 to $475 on Mastercard

as it maintains a Neutral rating on shares. Goldman Sachs notes, "We retain our Neutral rating on MA shares. There are no changes to our estimates, but we are trimming our 12-month price target to reflect limited room for near-term multiple expansion following the significant valuation recovery over the last 12 months as the shares recovered much of the ground lost on debit rule changes in the US." MA closed at $409.37 on Wednesday.