Western Union Receives Neutral Rating from Zacks (WU)
Western Union (NYSE:WU)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $17.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 3.34% from the company’s current price.
Zacks‘ analyst wrote, “Western Union has delivered a strong performance in the first nine months of 2013. We are optimistic about the company’s performance going forward, given its long-term growth momentum led by strategic investments in new products, services and technology. However, rapid growth of other cheaper money transfer options may lead to competitive pressures. The company is focusing on three main areas – expanding the existing network and retaining and adding new customers to the consumer money transfer business creating a digital infrastructure to drive its electronic channels business and finally, development of the business-to-business segment apart from ensuring successful integration of the Travelex business. Given the pace at which the company is aggressively making acquisitions, expanding its agent network, and rolling out new products and services, we expect Western Union to achieve long-term growth much ahead of its peers. We thus maintain our Neutral recommendation on the stock. “
A number of other analysts have also recently weighed in on WU. Analysts at Compass Point upgraded shares of Western Union from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, January 16th. They now have a $20.00 price target on the stock, up previously from $16.00. Separately, analysts at Citigroup Inc. downgraded shares of Western Union from a “neutral” rating to a “sell” rating in a research note to investors on Tuesday, January 14th. Finally, analysts at Citigroup Inc. downgraded shares of Western Union from a “neutral” rating to a “sell” rating in a research note to investors on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. Western Union currently has an average rating of “Hold” and an average target price of $18.34.
Shares of Western Union (NYSE:WU) traded down 1.40% during mid-day trading on Tuesday, hitting $16.22. 3,410,065 shares of the company’s stock traded hands. Western Union has a 52 week low of $13.37 and a 52 week high of $19.50. The stock’s 50-day moving average is $16.84 and its 200-day moving average is $17.67. The company has a market cap of $8.958 billion and a P/E ratio of 10.89.
The Western Union Company (NYSE:WU) is engaged in money movement and payment services.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.