MasterCard price target lowered to $500 from $510 at JPMorgan

JPMorgan analyst Tien-tsin Huang lowered the firm’s price target on MasterCard to $500 from $510 and keeps an Overweight rating on the shares ahead of the Q2 report. The analyst continues to see both Visa and MasterCard as “best-in-class compounders” with diversified medium-term growth opportunities and pricing levers that can offset regulatory and operating pressures. While intra-quarter spending data indicates domestic spending is relatively stable adjusted for leap year, on a reported basis there is some risk to Street U.S. volume estimates, the analyst tells investors in a research note.