Western Union initiated with a Perform at Oppenheimer

Oppenheimer analyst Rayna Kumar initiated coverage of Western Union (WU) with a Perform rating. The firm says that while Western Union is making progress defending its market share through increased investments in digital capabilities, strategic pricing, and partnerships with fintechs and the card networks, Oppenheimer remains on the sidelines until it sees clearer evidence of a sustained revenue growth turnaround. Western Union continues to face headwinds from tightening U.S. immigration policy, intensifying competition from digital-native players and aggressive pricing from legacy cash-to-cash money remittance providers. That said, the stock offers an attractive dividend yield near 10%, which may be compelling for income-oriented investors, the firm adds.