MasterCard price target raised to $504 from $484 at JPMorgan

JPMorgan raised the firm’s price target on MasterCard to $504 from $484 and keeps an Overweight rating on the shares. The analyst says Q4 spending data, including issuer card volumes, indicate stable to slightly decelerating domestic volume growth, while cross-border volume readthroughs were directionally positive. Considering beneficial currency and bank earnings indicating stable consumer health, the setup into Mastercard’s and Visa’s earnings print “leans positive and should set a positive tone for the sector,” the analyst tells investors in a research note.