Western Union Analyst Says It's 'Too Early To Bank On A Turnaround'
Portfolio Pulse from Priya Nigam
Western Union Co (NYSE:WU) shares dropped about 5% over the past week. BMO Capital Markets analyst Rufus Hone initiated coverage with a Market Perform rating and a $12 price target, citing concerns over the company's ability to generate sustainable revenue growth in a competitive and slower growing remittance market. Hone suggests that it's too early to bank on a turnaround for Western Union, as the company may face macro headwinds and need additional investment to drive customer and transaction growth.
December 05, 2023 | 6:08 pm
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Western Union's stock has seen a 5% decline over the last five sessions. Analyst Rufus Hone from BMO Capital Markets is skeptical about the company's near-term prospects, initiating coverage with a Market Perform rating and a $12 price target.
The negative sentiment from the analyst report, which questions Western Union's ability to achieve sustainable revenue growth and suggests the need for additional investment, is likely to weigh on investor sentiment and could lead to a short-term negative impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100