MasterCard "hold," target price raised

13.02.07 - Deutsche Securities

NEW YORK, February 13 (newratings.com) - Analysts at Deutsche Bank Securities reiterate their "hold" rating on MasterCard Inc (MA), while raising their estimates for the company. The target price has been raised from $77 to $92.

In a research note published yesterday, the analysts mention that the company has reported its revenues for the latest quarter ahead of the consensus. MasterCard?s EPS for the quarter was significantly ahead of the estimates and the consensus due to lower-than-expected ad spend and G&A and efficient cost management, the analysts say. The EPS estimates for 2007 and 2008 have been raised from $3.77 to $4.05 and from $4.40 to $4.85, respectively.