Market Overview

UPDATE: Jefferies Downgrades Western Union to Hold on Weak Outlook

Share:
Related WU
Barclays Initiates Coverage Of Payments Sector, Names PayPal As Top Pick
Benzinga's Top Upgrades, Downgrades For November 6, 2018

Jefferies reduced its rating on Western Union (NYSE: WU) from Buy to Hold and lowered its price target from $23 to $15.

Jefferies commented, "Following last night's very disappointing outlook, we are downgrading shares to Hold from Buy. The sudden loss of visibility, planned pricing cuts, and significant '13 estimate reductions all represent a hit to credibility which we believe will be challenging to recover from in the near-term. Deteriorating fundamentals and execution are likely to put a lid on the valuation multiple; Board should consider bolder actions, in our view."

Western Union closed at $12.88 on Wednesday.

Latest Ratings for WU

DateFirmActionFromTo
Dec 2018Keefe Bruyette & WoodsInitiates Coverage OnMarket Perform
Nov 2018BarclaysInitiates Coverage OnUnderweight
Nov 2018Wells FargoMaintainsMarket PerformMarket Perform

View More Analyst Ratings for WU
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (WU)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
DLTRBernsteinUpgrades0.0
CNPUBSUpgrades34.0
UGIUBSDowngrades63.0
ATOUBSDowngrades106.0
CSCONomuraDowngrades50.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

UPDATE: Oppenheimer Downgrades Netflix to Perform on Valuation

UPDATE: Piper Jaffray Initiates Millennial Media at Neutral on Valuation