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Fly News Breaks for September 17, 2018
V, MA
Sep 17, 2018 | 06:29 EDT
Goldman Sachs analyst James Schneider added MasterCard (MA) to his firm's Conviction List while maintaining a Buy rating on the shares. The analyst also upped his price target for the stock to $260 from $230. He continues to see upside to consensus estimates over the next 12 months driven by core consumer volume and exposure to Europe and other growth markets. Further, Schneider believes the business-to-business market represents the "next growth horizon for the payments industry" and thinks Mastercard is the best positioned given its "multi-faceted product approach." The analyst thinks Mastercard to sustain mid-teens revenue growth and 20% earnings growth over the next five years. Schneider this morning also removed Visa (V) from Goldman's Conviction List but kept a Buy rating on the shares.