MasterCard price target raised to $510 from $442 at JPMorgan

JPMorgan analyst Tien-tsin Huang raised the firm’s price target on MasterCard to $510 from $442 and keeps an Overweight rating on the shares. The analyst established December 2024 price targets for the payments and processors group, saying much of the sector continues to trade near multi-year lows, with valuations compressed well beyond historical averages relative to the S&P 500 Index. The firm assumes the “relative bearish sentiment” remains, but sees “healthy upside” for its top picks.