TD Cowen initiated coverage of MasterCard with a Buy rating and $545 price target. The analyst says MasterCard offers an “attractive high-growth, high-margin business poised to deliver outsized expansion” over the medium- to long-term given its leading market position in a “robust” $45 trillion global consumer payments market. With room for further EBIT margin expansion as MasterCard nears 60%, TD forecasts mid-teens earnings growth over the medium term, the analyst tells investors in a research note.
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