MasterCard Receives “Buy” Rating from Goldman Sachs Group Inc. (MA)
MasterCard (NYSE:MA)‘s stock had its “buy” rating reiterated by equities researchers at Goldman Sachs Group Inc. in a research report issued on Thursday, StockRatingsNetwork.com reports. They currently have a $710.00 price target on the stock, up from their previous price target of $690.00. Goldman Sachs Group Inc.’s price target points to a potential upside of 7.83% from the company’s current price.
The analysts wrote, “On September 11, MA hosted its annual 2013 meeting in New York City. Incrementally, MA provided an intra-quarter volume update which confirmed sustained global momentum. MA reiterated its long-term CAGR (CY13-CY15) objectives with net revenue of 11%-14%, minimum annual operating margin of 50%, and EPS growth of at least 20%. We are updating our estimates on updated FX assumptions, higher volume growth, and share repurchases. Our revised CY13-CY15 EPS estimates now stand at $26.37/$31.47/$37.01. Consistent with our higher estimates, higher implied multiple of 22.6X (from 22.1X), and upward bias to our EPS estimates we are raising our 12 month price target to $710 (from $690).”
A number of other firms have also recently commented on MA. Analysts at Oppenheimer reiterated an “outperform” rating on shares of MasterCard (NYSE:MA) in a research note to investors on Thursday. They now have a $675.00 price target on the stock, up previously from $640.00. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of MasterCard (NYSE:MA) in a research note to investors on Thursday. They now have a $758.00 price target on the stock, up previously from $683.00. Finally, analysts at FBR Capital Markets reiterated an “outperform” rating on shares of MasterCard (NYSE:MA) in a research note to investors on Thursday. They now have a $690.00 price target on the stock, up previously from $640.00.
Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. MasterCard currently has an average rating of “Buy” and an average target price of $648.19.
Shares of MasterCard (NYSE:MA) traded up 1.90% on Thursday, hitting $671.00. 387,293 shares of the company’s stock traded hands. MasterCard has a 52-week low of $445.77 and a 52-week high of $663.23. The stock’s 50-day moving average is $624.8 and its 200-day moving average is $571.6. The company has a market cap of $80.939 billion and a price-to-earnings ratio of 27.21.
MasterCard (NYSE:MA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $6.96 earnings per share for the quarter, beating the analysts’ consensus estimate of $6.29 by $0.67. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.00 billion. During the same quarter last year, the company posted $5.65 earnings per share. MasterCard’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that MasterCard will post $26.08 EPS for the current fiscal year.
MasterCard Incorporated (NYSE:MA) is a global payments and technology company that connects consumers, financial institutions, merchants, Governments and businesses worldwide, enabling them to use electronic forms of payment instead of cash and checks.
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