UPDATE: Deutsche Bank Upgrades The Western Union Company to Buy, Raises PT

In a report published Monday, Deutsche Bank upgraded its rating on The Western Union Company WU from Hold to Buy, and raised its price target from $14.00 to $19.00. Deutsche Bank noted, “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. At our new TP of $19, we believe WU's valuation is attractive at 11.7x our CY14 estimate of $1.63.” The Western Union Company closed on Friday at $14.38.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesAnalyst RatingsDeutsche Bank
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!