Northland Securities Believes Western Union (NYSE: WU) Still Has Room to Grow

In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Western Union (WUResearch Report), with a price target of $32.00. The company’s shares closed last Tuesday at $25.86, close to its 52-week high of $26.61.

According to TipRanks.com, Grondahl is a top 100 analyst with an average return of 29.3% and a 61.8% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, International Money Express, and WisdomTree Investments.

Currently, the analyst consensus on Western Union is a Hold with an average price target of $26.05.

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Based on Western Union’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.27 billion and net profit of $177 million. In comparison, last year the company earned revenue of $1.31 billion and had a net profit of $135 million.

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The Western Union Co. is a holding company, which engages in the provision of money transfer and payment services. It operates through the following segments: Consumer-to-Consumer; Business Solutions; and Other. The Consumer-to-Consumer segment facilitates money transfers between two consumers. The Business Solutions segment offers payment and foreign exchange solutions, primarily cross-border, cross-currency transactions, for small and medium size enterprises and other organizations and individuals. The Other segment comprises electronic-based and cash-based bill payment services. The company was founded in 1851 and is headquartered in Denver, CO.