Macquarie Initiates Xoom With Outperform

Macquarie initiated coverage on

with a Outperform rating. The target price for Xoom is set to $20. Xoom shares have dropped 14.30% over the past 52 weeks, while the S&P 500 index has surged 12.97% in the same period. Xoom shares closed at $16.12 yesterday.