MasterCard "buy," target price raised - update

03.06.08 - Stifel Nicolaus

NEW YORK, June 3 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on MasterCard Incorporated (MA), while revising their estimates for the company. The target price has been raised from $312 to $367.

In a research note published this morning, the analysts mention that the company?s top-line margin growth is expected to continue in 2008. MasterCard is expected to continue to generate EPS growth for years to come on account of its price increases, the analysts say. The EPS estimate for FY08 has been reduced from $9.75 to $9.64 to reflect a rise in expenses due to the upcoming Olympics. The EPS estimate for FY09 has been raised from $12.00 to $12.25.