Western Union price target lowered to $12 from $15 at Susquehanna

Susquehanna analyst James Friedman lowered the firm’s price target on Western Union to $12 from $15 and keeps a Neutral rating on the shares. The analyst said we want to give Western Union credit for a fresh approach and would appreciate more consistent measurement, the absence of which will govern the multiple. We are tweaking estimates but trimming our price target largely on these and macro concerns.