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Fly News Breaks for July 17, 2018
MA
Jul 17, 2018 | 07:17 EDT
Oppenheimer analyst Glenn Greene raised his price target for MasterCard (MA) to $215 from $197 ahead of quarterly results. The analyst is encouraged by an acceleration in retail sales growth, and healthy, although slightly moderated, card issuer volume growth. FX is a well-understood modest incremental headwind, he adds. Nonetheless, Greene prefers Visa (V) relative to MasterCard (MA) at present, albeit marginally, given its widest valuation discount in approximately four years and likely multi-year Visa Europe accretion benefits. He reiterates an Outperform rating on MasterCard shares.
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