FinancialContent is the trusted provider of stock market information to the media industry.
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 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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here
Financial Widgets

Display market data, financial news or stock quotes - Learn More

Advertising Network

Advertise on FinancialContent's huge network - Learn More

Web Services

Power your internet and wireless applications - Learn More