Bank of America reinstates coverage with a Buy rating and $430 target price on MasterCard Inc. MA on a fresh view on the company's secular growth.
BofA says, “We think MA's strong business momentum will continue, albeit at a more moderate pace, driven by secular payment volume growth, share gains and modest global economic growth. We anticipate MA to continue to generate attractive 18-20% EPS growth in this backdrop, leveraging is scalable platform, which we think will propel MA shares higher.”
MA closes at $374.35 per share on Wednesday.
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Posted In: Analyst ColorReiterationPre-Market OutlookAnalyst RatingsBank of AmericaData Processing & Outsourced ServicesInformation Technology
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