12:35 PM EDT, 10/01/2024 (MT Newswires) -- Mastercard ( MA ) will continue to benefit in the shift to electronic payments from paper, driving high-single to low double-digit payment volume growth in at least the next three years, Oppenheimer said Monday in a report

"Near-term, Mastercard's ( MA ) success will rely on the resilience of the global consumer in a challenging economic environment," the report said. Given its exposure to markets with less mature payment methods, Mastercard ( MA ) may outgrow Visa (V) by 2% on revenue in the next two years, Oppenheimer said

In the longer-term, Mastercard ( MA ) continues to face risks from increased regulation, the report said.

Mastercard ( MA ) is the "top large-cap idea" with an outperform rating, Oppenheimer said. The price target was boosted to $591 from $517.

Oppenheimer boosted Visa's price target to $318 from $289 and maintained its outperform rating.

Shares of Mastercard ( MA ) rose 0.4% in recent trading Tuesday, and Visa climbed 1%.

Price: 495.79, Change: +1.99, Percent Change: +0.40