Market Overview

UPDATE: Deutsche Bank Upgrades Western Union to Buy on Sentiment Turnaround

Share:
Related WU
Earnings Scheduled For May 3, 2016
U.S. Companies Race To Set Up Shop In Cuba

Deutsche Bank upgraded Western Union (NYSE: WU) from Hold to Buy and raised the price target from $14.00 to $19.00.

Deutsche Bank said, "Although sentiment remains negative on WU, we see a market setting up well for a WU turnaround. The macro environment appears to have bottomed globally and vols should begin to accelerate. Recent US housing starts bode well for migrant employment opportunities in construction (large migrant transfer base). Additionally, the increased likelihood of US immigration reform (WU a long-time supporter) augurs well for WU to see increased vol. With WU resetting its strategy, we expect transaction vols to begin increasing and share gains to follow."

Western Union closed at $14.38 on Friday.

Latest Ratings for WU

DateFirmActionFromTo
Apr 2016Compass PointInitiates Coverage onNeutral
Mar 2016SunTrust Robinson HumphreyUpgradesReduceNeutral
Feb 2016Northland SecuritiesInitiates Coverage onMarket Perform

View More Analyst Ratings for WU
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings

 

Related Articles (WU)

View Comments and Join the Discussion!