UPDATE: Wedbush Raises PT on Mastercard to $280

Wedbush is out with its report today on Mastercard MA, raising its PT from $258 to $280. In a note to clients, Wedbush writes, "Increasing price target to $280 from $258 and maintain NEUTRAL rating. Our target represents a 14x multiple on our EPS estimate, a 15% discount to our long-term growth estimate based on the excess legal liability versus V V. At the time of posting, shares of MA were trading pre-market at $307.57, down 0.69% from Wednesday's close.