MasterCard price target raised to $678 from $665 at Morgan Stanley

Morgan Stanley analyst James Faucette raised the firm’s price target on MasterCard (MA) to $678 from $665 and keeps an Overweight rating on the shares. Mastercard called out that they renewed their credit partnership with Capital One (COF) and will also be the network for a large portion of Capital One’s newly acquired credit accounts, notes the analyst, who sees the renewal reinforcing the substantial performance advantage of its network. The firm is also encouraged by healthy underlying domestic and cross-border spend trends, the analyst tells investors in a post-earnings note.