Mizuho Slashes Price Targets Of Mastercard, Visa Out Of Precaution - Read Why - Mastercard (NYSE:MA), Visa (NYSE:V)

Mizuho analyst Dan Dolev maintained Mastercard Inc MA with a Buy, cut the price target from $435 to $375, maintained Visa Inc V with a Neutral, and lowered the Price Target from $235 to $215.
The revival of the highly lucrative cross-border volumes following the COVID shock to the travel industry remains a significant component of the medium-term bull thesis for both V & MA, as per Dolev.
However, while travel-related stocks and visits to OTAs and other travel websites, a proxy for booking strength, have weakened, V & MA have yet to meaningfully correct, he added.
Dolev was optimistic about the continued momentum in cross-border spending.
However, out of precaution, he slightly lowered estimates, multiples, and PTs for both V & MA, which now reflects a more difficult FX and market environment.
Price Action: V shares traded lower by 0.14% at $196.61 on the last check Friday. MA shares traded lower by 0.29% at $314.57.
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Mizuho Slashes Price Targets Of Mastercard, Visa Out Of Precaution - Read Why