Deutsche Bank raised its MasterCard MA price target to $300 from $295 in a research report published today.
In the report, Deutsche Bank states, "MA's $0.12 EPS beat vs. Street was smaller/lower quality than avg., but MA rallied +2.5% due to (i) strength in key spend revs drivers (US credit vols inflection/high-teens cross- border vols) (ii) MA's conviction on LT growth despite worse-than-expected Fed proposal, (iii) pact among defendants that puts MA on hook for just 12% of monetary amount in case of global settlement in merchant litigation. MA hopeful heightened debate on unintended effects of Durbin leads to change there. Buy."
Shares of MasterCard were at $245.40 in after hours trading at the time of posting, reflecting virtually no change from Thursday's market close of $245.39.
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