MasterCard downgraded to "market perform"

12.09.06 - Morgan Keegan

NEW YORK, September 12 (newratings.com) - Analysts at Morgan Keegan downgrade MasterCard Incorporated (MA) to "market perform."

In a research note published this morning, the analysts mention that the downgrade in the rating is based on valuation. MasterCard?s business fundamentals are robust and the company has gained market share from Visa in 2Q, the analysts say. The company is not facing significant pricing pressures due to an increase in other fee income, Morgan Keegan adds.