JPMorgan analyst Tien-tsin Huang lowered the firm’s price target on MasterCard to $496 from $510 and keeps an Overweight rating on the shares ahead of the Q3 report. The analyst updated the firm’s model for MasterCard, primarily for currency, while also taking a more conservative view on fiscal 2024 volume growth. The analyst leans “slightly cautious” into the print but likes the shares into fiscal 2024 given new deal momentum.
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