MasterCard price target raised to $564 from $544 at Morgan Stanley

Morgan Stanley analyst James Faucette raised the firm’s price target on MasterCard (MA) to $564 from $544 and keeps an Overweight rating on the shares. The company’s investor day reinforced the firm’s view that the key pillars of its investment thesis are intact and that MasterCard shares can continue to compound with earnings along with modest multiple expansion, the analyst tells investors. The firm was “encouraged” by MasterCard’s updated outlook that calls for revenue growth at the high-end of low-double-digits, a minimum operating margin of 55%, and adjusted EPS growth of mid-teens, all of which are consistent with Street forecasts and in-line with investor expectations, the analyst added.