Analyst ups price target on MasterCard

An analyst raised his price target and estimates on MasterCard Inc. last week, citing confidence in the credit card company’s long-term sales potential.

Calyon Securities analyst Craig Maurer”™s price target on MasterCard is now $260, up from $225. He also raised his 2008 earnings estimate to $7.59 a share from $7.39 a share.

Hiring should slow in 2008, but spending should pick up in growing markets, including Russia, where the company is growing at a rate of 40 percent a year, he said.

Shares of the Purchase company closed Friday at $181.10.