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From StockNews.com: Credit card issuer Mastercard Inc (NYSE:MA) early Thursday received a big upgrade from analysts at RBC Capital Markets.
The firm boosted its rating on MA from Outperform to Top Pick, also lifting its price target on the stock to $130 from a previous $115. That new target suggests a 22% upside to MA’s Wednesday closing price of $106.39 per share.
RBC Capital cited several reasons for the bullish view, including:
- A cycling out of a period of weak earnings due to the multi based on global economic weakness,
- A re-acceleration of earnings growth while operational expenditure growth slows,
- A business model that offers an inflation call option,
- The company’s recent VocaLink acquisition, which is a new strategic asset, and
- New innovations that the firm believes will expand MA’s network’s capabilities.
Mastercard Inc shares rose $0.61 (+0.57%) in premarket trading Thursday. Year-to-date, MA has gained 3.04%, versus a 1.36% rise in the benchmark S&P 500 index during the same period.
MA currently has an StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 39 stocks in the Consumer Financial Services category.
This article is brought to you courtesy of StockNews.com.
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