KeyBanc analyst Alex Markgraff raised the firm’s price target on MasterCard (MA) to $635 from $630 and keeps an Overweight rating on the shares. The firm notes Mastercard reported Q1 results ahead of the Street with revenue helped by yields and lower incentives and EPS helped by revenue upside and lower tax rate, among other factors. Similar to much of the rest of KeyBanc’s payments coverage that has reported so far, little impact of worsening consumer spend was realized in Q1 and April commentary suggested accelerating trends vs. March.
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