J.P. Morgan Raises PT On MasterCard To $330, Reiterates Overweight (MA)

J.P. Morgan increased its price target on MasterCard MA from $285 to $330, while reiterating its Overweight rating, in a research report published today. In the report, J.P. Morgan states, "MasterCard reported strong, clean 1Q11 results of $4.29, exceeding JPM/Street estimates of $4.09 on revenue upside. As expected, upside versus our model was primarily driven by stronger volume and transaction growth. We are raising estimates to reflect the beat, improving volume trends, and favorable currency trends. We are increasing our Dec 2011 price target to $330 (from $285) and remain Overweight." In today's early trading, MasterCard lost 0.09% to trade at $282.13.