MasterCard price target raised to $430 from $370 at Jefferies

Jefferies analyst Trevor Williams raised the firm’s price target on MasterCard to $430 from $370 and keeps a Buy rating on the shares. The set-ups are tougher after recent outperformance, but with the ongoing cross-border recovery and an ability to preserve EPS in a softer macro, the networks remain Williams’s favored sub-group, albeit with a bit less enthusiasm, the analyst tells investors in a research note. The analyst has a relative preference for MasterCard in 2023 due to less exposure to the U.S., more leverage to APAC, and a path higher for forward estimates.