UPDATE: Nomura Raises PT on MasterCard Ahead of June Quarter Results

In a report published Monday, Nomura analyst Bill Carcache reiterated a Buy rating on MasterCard MA, and raised the price target from $593.00 to $720.00.

In the report, Nomura noted, “V and MA report results for the June quarter on Wednesday (7/24) and Wednesday (7/31), respectively. The US macro data we have seen this quarter point to mid-single to low double- digit volume growth for Visa and ~high-single-digit growth for MasterCard. These growth rates are better than the prior quarter. We think both companies can deliver on expectations, and we view the risk/reward as positive going into the print. Our 2Q13 / 2013 EPS estimates for MA go to $6.34 / $25.67 (from $6.31 / $25.62), respectively. We are raising our TP for MA to reflect greater clarity on the EU regulatory front.”

MasterCard closed on Friday at $593.33.