BMO Capital analyst Rufus Hone raised the firm’s price target on MasterCard (MA) to $520 from $510 and keeps an Outperform rating on the shares. Given Visa’s (V) slightly softer-than-expected results, investors had concerns around MasterCard’s revenue trajectory, but the company demonstrated another solid quarter of double-digit revenue growth, with payment network revenue benefiting from strong cross-border fees and lower rebates and incentives, the analyst tells investors in a research note.
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