Seaport Research downgraded MasterCard (MA) to Neutral from Buy without a price target. The firm prefers Visa (V) on a relative basis over Mastercard entering 2025, given Visa’s more significant U.S. exposure. Seaport continues to like the MasterCard story but sees the shares as relatively fairly valued. The company’s revenue upside in 2025 seems more limited given its greater international exposure versus Visa, plus Mastercard lacks an identifiable catalyst, the analyst tells investors in a research note.
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