Jim Cramer Discusses Mastercard (MA) & Trump Credit Card Cap

We recently published 13 Stocks Jim Cramer Commented On.  Mastercard Incorporated (NYSE:MA) is one of the stocks Jim Cramer commanded on.

Payment processor Mastercard Incorporated (NYSE:MA)’s shares are down by 4% over the past year and by 6.8% year-to-date. As per The Fly, Compass Point upgraded the shares to Buy from Neutral and raised the share price target to $735 from $620 in mid-January. The firm pointed out that Mastercard Incorporated (NYSE:MA)’s sector was finding a bottom that could occur after the fourth quarter earnings cycle was complete. Later, Truist reduced the share price target to $609 from $630 and kept a Buy rating. Like Compass Point, Truist’s coverage was part of its comments on the broader financial sector. Along with the two, TD Cowen also discussed Mastercard Incorporated (NYSE:MA)’s shares. It increased the share price target to $668 from $654 and kept a Buy rating. The shares have struggled recently after President Trump suggested a 10% cap on credit card interest rates. Cramer commented on the President’s remarks and outlined that Mastercard Incorporated (NYSE:MA) and others need to be quick on their feet:

“They better get on the case. This is something that, everything involving credit card, also Visa, Mastercard. It is always going to Congress. And Congress has an affinity for the banks, because there are bankers in every single area. And one of the great areas for profit is the credit card. I think that if you listen to the real, the bankers will say, listen, some people will have to pay more. And it’s very clear, if you ever go and look at their website to be able to buy things, it’s clear that [inaudible] is in the house.”

“. . .Again, ten percent with a thousand dollar credit line, could work for one year, and they have to come to the table or else they’re gonna be made fun of and embarrassed everyday.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.