MasterCard price target lowered to $639 from $644 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on MasterCard (MA) to $639 from $644 and keeps an Overweight rating on the shares, telling investors that the firm is “reassured” by the fact that that MasterCard reiterated its organic net revenue outlook for about 12%-13% growth. Spending patterns remain healthy through April, supporting an unchanged organic top-line outlook, adds the analyst, who continues to view MasterCard as “among the most defensible names in our coverage.”