Analysts at RBC Capital lowered their estimates on Mastercard Incorporated (NYSE:MA) to reflect the company’s decision to cease operations in Russia because of the conflict in Ukraine.

The analysts lowered their 2022 revenue, EBITDA and EPS estimates to $21.35 billion, $12.97 billion and $9.93 from $22.45 billion/ $13.64 billion/$10.50, respectively. Their new 2023 revenue, EBITDA and EPS estimates are $25.37 billion, $15.79 billion and $12.40, respectively.

The analysts maintained their outperform rating and $403 price target on the company’s shares, mentioning they believe the company is a core long-term holding and an “indexed” way to play payments and benefits from three global secular megatrends including global consumption, global digitization of payments, and global innovation, which is creating new payment flows.