Evercore ISI raised the firm’s price target on Western Union to $14 from $13 and keeps an In Line rating on the shares. February U.S. payment volume growth accelerated following a soft January, with commentary from Visa (V) pointing to quarter-to-date U.S. payment volume growth through February 21 in line with the Q4 rate of 5%, the analyst tells investors. Overall, calendar Q1 data points reflect a U.S. soft-landing scenario, supporting continued, stable payment volume growth, and creating a favorable set up for most of the payment companies the firm covers, the analyst added in a Q1 preview note for the payments, processors and IT services group.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WU:
- Wells Fargo downgraded, Best Buy upgraded: Wall Street’s top analyst calls
- Western Union initiated with a Neutral at Monness Crespi
- Visa and Western Union announce expanded cross-border collaboration
- Western Union and Mercado Pago alliance extends to U.S. and Canada
- BanCoppel partners with Western Union to receive remittances via mobile app