Citi Initiates Coverage on MasterCard (MA) with a Sell; Prefers Visa (V) Over American Express (AXP)

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Citi initiates coverage on MasterCard (NYSE: MA) with a Sell and initiates coverage on Visa (NYSE: V) with a Hold, citing decelerating consumer spending due to the global recession.

Citi analyst says, "While we are positive on the business models longer term, we believe the companies will face headwinds from decelerating consumer spending due to the global recession and deleveraging by the U.S. consumer

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AXP, MA, V