Raymond James Cuts Mastercard Target to $631 but Keeps Outperform; Guidance and Product Plans Highlighted
Raymond James reduced its price target for Mastercard to $631 from $707 while preserving an Outperform rating after the company's fourth-quarter results. The firm's analysts see the EPS beat as driven by tax and grant benefits rather than top-line strength, but note supportive expense guidance and product initiatives that underpin a broadly constru…