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April 05, 2012 at 08:49 AM EDT
Western Union Upgraded to “Buy” at Goldman Sachs (WU)

Money transfer and payment specialist The Western Union Company (WU) on Thursday caught a big upgrade from analysts at Goldman Sachs.

The firm said it boosted its rating on WU from “Neutral” to “Buy” while lifting its price target to $21. That new target suggests an 18% upside to the stock’s Wednesday closing price of $17.81.

Goldman noted the company’s recent restructuring efforts should pay off in the form of better margins in the near term. This inflection point could prove a key catalyst for an uptick in valuation.

Western Union shares posted modest gains in premarket trading Thursday.

The Bottom Line
Shares of Western Union (WU) have a 2.25% dividend yield, based on last night’s closing stock price of $17.81. The stock has technical support in the $16 price area. If the shares can firm up, we see overhead resistance around the $19-$20 price levels.

The Western Union Company (WU) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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