MasterCard upgraded to "hold"

10.05.07 - Stifel Nicolaus

NEW YORK, May 10 (newratings.com) - Analysts at Stifel Nicolaus & Company upgrade MasterCard Incorporated (MA) from "sell" to "hold," while raising their estimates for the company.

In a research note published this morning, the analysts mention that since last July, the company?s share price has tripled, propelled by significant earnings surprises. Despite significant rally in MasterCard Incorporated?s stock, there is still upside to the company?s share price, and the company is expected to continue to post higher-than-expected earnings, the analysts say. The company has reported its 1Q07 revenue growth significantly ahead of expectations, which might have been driven by another unrevealed price hike, Stifel Nicolaus & Company adds. The EPS estimates for FY07 and FY08 have been raised from $4.24 to $5.05 and from $5.05 to $6.25, respectively.