MasterCard price target raised to $640 from $614 at Raymond James

Raymond James analyst John Davis raised the firm’s price target on MasterCard (MA) to $640 from $614 and keeps an Outperform rating on the shares. MasterCard reported solid Q4 results, including a 3% EPS beat on 1% revenue upside vs. the Street, with quarter to date volume trends that were largely consistent with Q4, and the 100 basis point acceleration in U.S. volumes to 10% was better than feared, the analyst tells investors in a research note. The firm expects the operating expense outlook to prove conservative should top line growth not materially outpace the initial guidance.