Goldman Maintains Buy On Mastercard

Goldman Sachs has published a research report on Mastercard Inc. MA after the company reported stability in purchase volumes in the last quarter. In the report, Goldman writes "November results were largely in line with reported October trends, suggesting sustained momentum in the US and global consumer. Overall, globally processed transactions improved in November (+6%) vs. October (+4%) and 3Q10 (+0.6%). Excluding debit roll-offs, transaction growth came in at 18% vs. 17% in October and +12.9% in 3Q10. US credit processed volume finished in the low single digits, consistent with October commentary and tracking above the reported +0.8% in 3Q10. US debit processed volume was up slightly vs. the single digit decline seen in October. Excluding roll-offs, debit processed volume came in at +25% vs. +24% in October. Finally, cross border volumes grew 19%, an improvement from 17% in October and 15.4% in 3Q10." Goldman Sachs maintains its Buy rating on Mastercard, Inc., which closed yesterday at $248.19.