Cowen & Co. Believes Mastercard (NYSE: MA) Still Has Room to Grow

By Carrie Williams

Cowen & Co. analyst Georgios Mihalos reiterated a Buy rating on Mastercard (NYSE: MA) yesterday and set a price target of $171. The company’s shares closed yesterday at $162.33, close to its 52-week high of $162.52.

According to TipRanks.com, Mihalos is a 5-star analyst with an average return of 20.7% and a 89.6% success rate. Mihalos covers the Technology sector, focusing on stocks such as Broadridge Financial Solutions Llc, Automatic Data Processing, and Fidelity National Info.

Currently, the analyst consensus on Mastercard is Strong Buy and the average price target is $170.61, representing a 5.1% upside.

In a report issued on December 28, Susquehanna also reiterated a Buy rating on the stock with a $180 price target.

Based on Mastercard’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $3.4 billion and quarterly net profit of $1.43 billion. In comparison, last year the company earned revenue of $2.76 billion and had a net profit of $933 million.

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