NEW YORK (TheStreet) -- Shares of MasterCard (MA) - Get Report were higher in mid-afternoon trading on Thursday ahead of the company's 2016 third quarter results, due out before tomorrow's market open.
Wall Street is expecting earnings and revenue to increase year-over-year.
Analysts surveyed by FactSet are forecasting that the Purchase, NY-based credit card company will report adjusted earnings of 98 cents per share on revenue of $2.74 billion.
During the same quarter a year ago, MasterCard earned 91 cents per diluted share on revenue of $2.53 billion.
Oppenheimer raised its price target on the stock to $112 from $104 and maintained an "outperform" rating ahead of the quarterly report.
"MA's core metrics remained broadly healthy in July/Aug. and varied above/below 2Q16 growth rates. Processed transactions in July/Aug. grew 18% year-over-year, up from +14% year-over-year in the June quarter," the firm wrote in a recent note.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A+ on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share and increase in net income.
The team believes its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MA