Morgan Stanley raised the firm’s price target on MasterCard (MA) to $544 from $540 and keeps an Overweight rating on the shares. Spend patterns are healthy through October and international travel growth can still be a source of modest upside, but the firm notes that FY25 has “nuances around lapping client wins and a higher tax rate,” resulting in the firm’s FY25 EPS estimate coming down as it recalibrates taxes amid Singapore Pillar II global minimum tax rules.
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- MasterCard price target raised to $572 from $566 at Citi
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