Piper Jaffray Reduces Estimates for MasterCard (MA)

Piper Jaffray analysts Robert Napoli, Jason Deleeuw, and Brian Hogan reduced estimates for Mastercard Inc (NYSE: MA) due to adverse FX from a weak Euro.

The analysts lowered 2010/2011 EPS to $13.75/$16.71 from $14.00/$17.05.

Piper Jaffray analysts do not believe that new debit interchange legislation will affect Visa (NYSE: V) and Mastercard. The brunt of the cost will be passed on to the consumer, according to the analysts.

The analysts said, "Given the 20%+ drop in the shares, we find MasterCard's stock attractive at 11.7x our '11 EPS estimate or 12.4x our downside-case scenario."

Piper Jaffray gives Mastercard a price target of $300 and an Overweight rating.

Shares of MA are trading at $195.83. Its 52-week range is $178.00-$269.88.