Home Earnings Analysis Financials  Summary Mastercard is upgraded to buy as its risk-reward profile improves after a 12% price decline and a 26% valuation multiple compression. MA continues to outpace V in growth, with last quarter’s revenue rising 300 bps faster than V, justifying a somewhat higher valuation multiple. Management guides for Q1 2026 net revenue growth at the low end of low double digits, with operating expense growth in the high single digits. Profitability is expected to improve due to slower expense growth, but a near-term stock price catalyst is unlikely without stronger market conviction. Still, with a much lower valuation and as good as usual business, I think MA gives a double-digit total return opportunity. jbk_photography/iStock Editorial via Getty Images I've been Mastercard's ( MA ) shareholder for years, and I keep increasing my position from time to time. In my eyes, it's one of the best business models ever created.…