MasterCard "overweight"

29.08.06 - Prudential Financial

NEW YORK, August 29 (newratings.com) - Analyst Matthew Park of Prudential Financial maintains his "overweight" rating on MasterCard Incorporated (MA). The target price is set to $60.

In a research note published yesterday, the analyst mentions that JPMorgan Chase has been transferring its off-line debit accounts from MasterCard to the Visa network. JPMorgan Chase?s debit switch is estimated to adversely impact MasterCard?s earnings by around $0.05 per share after tax in 2H06, the analyst says. MasterCard?s attractive business model provides opportunities for operating expense leverage and growth, Prudential Financial adds.