Truist Securities analyst Andrew Jeffrey maintained Mastercard Inc (NYSE: MA) with a Buy and raised the price target from $450 to $475.
At a basic level, Mastercard is a branded global card switch, driving organic revenue growth and scale via share gains in a growing market. Jeffrey is bullish on structural ePayment growth, even as card penetration rises, reflecting a view that growing complexity e.g. eCommerce, tokenization, contactless, new tenders, like BNPL, and multi-tx environments, such as on-demand delivery, fuel volume growth.
In addition to his outlook for 10%+/- global card volume growth, the analyst is encouraged by share gains, evidenced by recent wins, including UniCredit (private), Citizen's, and Deutsche Bank.
Mastercard has Commercial momentum, Jeffrey writes. Commercial cards are a precursor to faster B2B volume and revenue growth as the company ...