Raymond James analyst John Davis raised the firm’s price target on MasterCard to $450 from $406 and keeps an Outperform rating on the shares. MasterCard’s Q4 results were "solid," with accelerating quarter-to-date trends, and an initial 2023 outlook that will likely leave Street numbers largely unchanged but is undoubtedly conservative, the analyst tells investors in a research note. The firm believes the networks will become the large cap tech stocks to own over the next 6+ months.
Published first on TheFly
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