Barclays analyst Ramsey El-Assal keeps an Overweight rating on MasterCard with a $428 price target after the Federal Trade Commission issued a preliminary order requiring the company to allow other debit networks to access its "token vault," so that merchants can more easily route tokenized/online debit transactions to other networks. Given MasterCard’ minority U.S. debit market share, "we do not expect a very material P&L impact," El-Assal tells investors in a research note.
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