Western Union upgraded to Peer Perform after selloff at Wolfe Research

Wolfe Research analyst Darrin Peller upgraded Western Union to Peer Perform from Underperform without a price target. The upgrade is based on better than expected transaction activity coupled with the recent decline in the share price, the analyst tells investors in a research note. Commentary at the Wolfe FinTech Forum indicated better than expected digital transaction trends as recent promotional activity appears to be successfully driving incremental users to the brand, says the firm. It says Western Union’s recent selloff "appears to be disconnected to fundamentals pointing towards better digital transaction activity."