The recent scrutiny credit card companies have received from Congress doesn’t appear to have had any adverse effects on MasterCard, Inc. In fact, the company hit an all time high at opening on Wall Street on Tuesday, May 29.
To date, more than 200 countries and about 250,000 banks are using MasterCard credit cards. As a result, MasterCard recorded $2.22 billion in revenue in 2006. These funds were primarily the result of processing $2 trillion in credit card payments.
Since MasterCard went public last year, its shares have more than tripled. Hochstim sees them reaching $184 per share. Many others have set targets of $86 to $175. After open on Tuesday, they had already reached $145.38
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