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Fly News Breaks for July 28, 2017
MA
Jul 28, 2017 | 07:40 EDT
Loop Capital analyst Joseph Vafi acknowledged MasterCard (MA) shares are near historical peak valuation, but he remains positive on the stock and thinks it can sustain this multiple for the next year as the company's earnings growth remains steady and secular trends are strong. The analyst, who added that the co-brand win with Kroger (KR) shows regained domestic momentum, raised his price target on MasterCard shares to $144 from $132 and keeps a Buy rating on the stock.
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