Visa, Mastercard catch price target hikes by MoffettNathanson on valuation By Investing.com

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<p dir="ltr">Investing.com &#8212; Payment giants <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Visa Inc </span></span> (NYSE:) and Mastercard Inc (NYSE:) are relatively cheap stocks to buy now, according to analysts at MoffettNathanson, which raised its price targets for each.</p>
<p dir="ltr">The firm raised its price target on Visa to $320 from $290 and on Mastercard to $490 from $460.</p>
<p dir="ltr">Shares of Visa slipped 0.5% on Friday but are up 14% so far this year. Shares of Mastercard also slipped 0.5% and are up 12% this year.</p>
<p dir="ltr">The analysts note that Visa and Mastercard valuations have reset largely on technical grounds: investors have been rotating out of some sectors to catch onto shares in the artificial intelligence sector. </p>
<p dir="ltr">“Business momentum is strong – the networks have both delivered nine straight quarters of positive surprises on revenues and EPS – and they are not facing any new or unusual risks or threats of disruption that would pressure their valuation,” the firm said of the stocks.</p>
<p dir="ltr">The firm reiterated its outperform rating on both Visa and Mastercard.</p>
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