UPDATE: Deutsche Bank Raises PT to $465 on MasterCard

Deutsche Bank increases its price target on Buy-rated MasterCard MA to $465 (up $50) following a better read post a meeting with senior company management. Deutsche Bank says, "We believe global transaction growth remains solid, spurred by adoption of electronic payments and market share gains (Swedbank [Buy, SEK111.50] ramps in 1Q12 leading numerous share gains in Europe). Taking advantage of the Durbin changes, our channel checks show that MA is winning a material amount of new PIN debit volume which brings low rev yields but solid margins." MA closed at $406.10 a share on Thursday.