Goldman Sachs Reiterates Buy Rating On MasterCard (MA)

In a research report released today, Goldman Sachs GS has reiterated its Buy rating on shares of MasterCard MA. After the close of trading yesterday, MasterCard announced that it has received Board authorization for a $1 billion share buyback effective immediately. The Goldman analysts wrote, "At the current share price ($199.75) the buyback would represent about 4% of the fully distributed share count, which we estimate at 131 million shares for CY2011. With no debt on the balance sheet and a primarily organic growth model, we would expect MA to be aggressive in executing against this repurchase (within 12-months). During today's trading session, MA shares have jumped 5.76% to $211.26.