UBS upgraded Western Union to Neutral from Sell following a 20% year-to-date stock decline. In the near-term, revenue growth will likely continue to be pressured by a difficult competitive environment and promotional pricing in Western Union’s digital channel, though a recent recovery in digital transaction growth and stronger customer retention suggests Western Union may still generate revenue within its guided 2023 range of down 2%-4%, the analyst tells investors in a research note.
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