UPDATE: Jefferies Reiterates Buy Rating, Raises PT on MasterCard Following Analyst Meeting

In a report published Thursday, Jefferies analyst Jason Kupferberg reiterated a Buy rating on MasterCard MA, and raised the price target from $683.00 to $758.00. In the report, Jefferies noted, “MA's analyst meeting included commentary on cultivating more productive relationships with merchants, as well as progress reports on key global markets/emerging geographies, and an update on balance sheet deployment strategy. The overarching theme was MA's singular focus on converting the 85% of global transactions that are currently cash and check to electronic payment methods. Maintain Buy.” MasterCard closed on Wednesday at $658.46.