: Mastercard’s stock flirts with first new record high in 17 months
Shares of Mastercard Inc. MA were ahead 1.25% in Tuesday trading, changing hands at $397.05. That puts the stock on pace to surpass the record close of $396.75 it achieved Feb. 2, 2022. Visa Inc. shares V, meanwhile, were up 0.7% in Tuesday’s session and on track to notch their highest close since Aug. 9, 2021, when they finished at $240. SVB MoffettNathanson analyst Lisa Ellis cheered both names in a note to clients last week, saying they sported “unusually attractive” entry points. Visa’s stock was trading at 1.30 times forward earnings as of the publication of her July 7 note, “below its 10-year average of 1.51x, one of the lowest levels in a decade.” She added that “Mastercard’s valuation is also depressed compared to historical levels, but not as severely (1.52x currently, compared to a 10-year average of 1.64x).” Ellis boosted her price target on Visa shares to $320 from $290 while lifting her target on Mastercard’s stock to $490 from $460. She rates both names at outperform.
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