We recently published 9 Stocks Jim Cramer Talked About. Mastercard Incorporated is one of the stocks on Jim Cramer talked about.
Mastercard Incorporated’s shares are down by 2.8% year-to-date. The shares, like those of peer companies Visa and American Express, have struggled after President Trump suggested capping credit card interest rates at 10%. However, after the President’s announcement, TD Cowen raised Mastercard Incorporated’s share price target to $668 from $654 and kept a Buy rating on the shares. As part of the upgrade, the financial firm cited consumer spending data and commented that macroeconomic factors had not affected it. The financial firm also discussed Trump’s announcement and stated that it did not expect Mastercard Incorporated to be affected by it. However, Mizuho, also discussing the announcement, pointed out that financial technology companies could benefit while payment processors might come under pressure after banks increase their scrutiny of borrowers. Cramer agrees with TD Cowen had he remarked that Mastercard Incorporated and peer company Visa would remain unaffected:
“Visa, Mastercard, don’t do any lending, they’re process companies.”
A mobile phone with Mastercard app
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This article is originally published at Insider Monkey.
