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Fly News Breaks for September 25, 2019
WU
Sep 25, 2019 | 08:24 EDT
BTIG analyst Mark Palmer raised his price target on Western Union to $28 and kept his Buy rating after its first Investor Day in three and a half years. The analyst cites the management's 3-year financial outlook forecasting operating margin rising to 23% from about 20% currently along with an annual double-digit increase in earnings and $150M in total annual cost savings. Palmer states that Western Union's presentation supports his view that the company offers a "stable core remittance business supplemented by an underappreciated digital offering."