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Fly News Breaks for September 27, 2019
Sep 27, 2019 | 09:18 EDT
Guggenheim analyst Jeff Cantwell upgraded Western Union to Buy from Neutral following what he called the company's "positive" investor day where management outlined "a solid 3-year growth trajectory." Revenue expansion and share buybacks should drive double-digit annual EPS growth while ongoing initiatives to both modernize and find new use cases could significantly increase Western Union's total addressable market over time, Cantwell tells investors following the company's event. He also sees upside to consensus forecasts coming from the company's strategic pivot to open up its platform to partners and set a $27 price target on the shares.