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

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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
Aug 2017BarclaysMaintainsUnderweight
Jun 2017MizuhoInitiates Coverage OnUnderperform
Jan 2017Compass PointDowngradesNeutralSell

View More Analyst Ratings for WU
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings

 

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