MasterCard price target raised to $404 from $392 at RBC Capital

RBC Capital raised the firm’s price target on MasterCard to $404 from $392 and keeps an Outperform rating on the shares. The company’s Q1 earnings beat reflected stability in consumer spending and benefited from continued improvement in cross-border volumes, the analyst tells investors in a research note. RBC adds that while MasterCard’s April trends show modest deceleration, this is mainly due to the lapping of Omicron and the exiting of Russia business.