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