Will Nance Reiterates Buy on Mastercard, Citing Undervalued Superior Growth and Emerging Payments Opportunities

In a report released yesterday, Will Nance from Goldman Sachs maintained a Buy rating on Mastercard, with a price target of $674.00.

Will Nance has given his Buy rating due to a combination of factors tied to Mastercard’s strategic positioning and growth outlook. Following meetings with management, he views the company’s push into emerging areas such as agentic payments and stablecoins not as threats, but as new engines for transaction growth, value‑added services, and cybersecurity-driven differentiation.

At the same time, he notes that Mastercard’s recent share price performance has lagged even as competitive discussions with issuers and merchants have become more strategic and its long‑term growth profile remains strong. In his view, the stock now trades only in line with Visa despite a superior long‑term growth trajectory and at a notable discount to its own historical valuation, creating an attractive entry point for investors.

In another report released on May 1, BMO Capital also assigned a Buy rating to the stock with a $580.00 price target.