MasterCard price target lowered to $550 from $610 at Evercore ISI

Evercore ISI lowered the firm’s price target on MasterCard (MA) to $550 from $610 and keeps an In Line rating on the shares. Visa (V) and MasterCard still offer strong long-term quality, but investor skepticism is rising as the market shifts focus from near-term execution to terminal growth and defensibility, the analyst tells investors. With multiples near cycle lows, the “setup is more attractive for patient holders, but near-term catalysts are lacking and the burden of proof is higher than it’s been in years,” the analyst added.