Western Union price target lowered to $12 from $13.50 at UBS

UBS lowered the firm’s price target on Western Union (WU) to $12 from $13.50 and keeps a Neutral rating on the shares. Western Union’s Q3 revenue was relatively in-line with expectations, with Iraq-related revenues coming in at the low-end of the $10M-$30M prior guidance range for 2H24, as previewed at an investor conference in September, the analyst tells investors in a research note. The firm continues to believe that while the company benefits from a set of competitive advantages, it has fewer moats in the more competitive digital channels where an increasing portion of transactions are likely to be sourced in the medium- to longer-term.