MasterCard & Visa: Too Darn Cheap Even When They’re Expensive

Nomura’s Bill Carcache and Yuman Lui think MasterCard (MA) and Visa (V) should be trading at higher valuations. They explain why: Bloomberg News We’ve been on the road recently pitching Visa and MasterCard as the top picks in our coverage universe, and the main question that we’ve been getting has centered on what kind of multiple [...]