MasterCard upgraded to "buy" - update

16.08.07 - A.G. Edwards & Sons

NEW YORK, August 16 (newratings.com) - Analyst Timothy W Willi of AG Edwards upgrades MasterCard Inc (MA) from "hold" to "buy." The price objective is set to $165.

In a research note published yesterday, the analyst mentions that the company?s share price has declined by about 24% since mid-July. There is likely to be a slowdown in domestic consumer spending in 2H07 and 2008, the analyst says. The long-term growth prospects of MasterCard?s international franchise are bright, given that the foreign card market is underpenetrated and global economic growth is expected to be robust.