MasterCard price target lowered to $432 from $441 at RBC Capital

RBC Capital lowered the firm’s price target on MasterCard to $432 from $441 but keeps an Outperform rating on the shares. The company’s Q3 upside was driven by a lower tax rate, making its earning beat “lower quality”, and its October trends and Q4 guidance highlight an incrementally slower environment, the analyst tells investors in a research note. MasterCard’s Value-Added Services business remains a growth engine, specifically Cyber & Intelligence and Consulting, which remains crucial drivers to the company’s both near- and long-term growth, the firm added.