Cantor starts Western Union at Underweight, sees stablecoin sentiment headwinds

Cantor Fitzgerald initiated coverage of Western Union (WU) with an Underweight rating and $9 price target Western Union management has made impressive strides in improving the business, though the brick and mortar network is a structural disadvantage compared to digital-first or digital-only remittance platforms, the analyst tells investors in a research note. The firm added that the company must also navigate ongoing U.S. immigration reform, regulatory developments, and stablecoin-related sentiment headwinds.