MasterCard price target lowered to $600 from $640 at Monness Crespi

Monness Crespi lowered the firm’s price target on MasterCard (MA) to $600 from $640 and keeps a Buy rating on the shares. Despite staying at Buy owing to what the firm sees as a larger consumer and value added services runway and less U.S. exposure, the firm cautions on the multiple for “such a high ROIC name” with growth uncertainty rising, creating what it views as “increasing sensitivity to valuation.”