MasterCard "neutral," target price raised

02.06.08 - Credit Suisse

NEW YORK, June 2 (newratings.com) - Analyst M Orenbuch of Credit Suisse maintains his "neutral" rating on MasterCard Inc (MA), while raising his estimates for the company. The target price has been raised from $250 to $285.

In a research note published on May 30, the analyst mentions that the company is expected to generate robust growth through 2011, since its focus on signature debit is delivering positive results. MasterCard is focusing on the current merchant initiatives, domestic debit opportunities, SEPA and new products, including mobile payments and prepaid cardsand technologies, the analyst says. The company has raised its three-year EPS growth guidance to 20%-30%. The EPS estimate for 2009 has been raised to $11.