Monness Crespi initiated coverage of Western Union with a Neutral rating and no price target as the analyst launched coverage of money transfer operators. Since 2021 Western Union EPS has declined as the core of the business stabilizes and the firm is “chiefly concerned” that the climb back to transaction share growth implies continued purposeful share loss and that it puts calendar year 2024 and 2025 EPS estimates at risk of downward revisions, the analyst tells investors.
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- Western Union price target raised to $11 from $10 at Barclays
- Western Union sees FY24 adjusted EPS $1.65-$1.75, consensus $1.68
