MasterCard price target raised to $494 from $440 at Argus

Argus raised the firm’s price target on MasterCard to $494 from $440 and keeps a Buy rating on the shares. The company’s Q4 earnings beat reflected continued healthy growth in spending volume, and higher spending included a further rebound in cross-border transactions as international travel increased, the analyst tells investors in a research note. Argus sees spending volume continue to improve in nearly all categories, though at a slower pace than in 2023 as higher interest rates take their toll on the global economy.