Western Union Co. , which facilitates long-distance money transfers between consumers and businesses, could see its shares rise to the low $20 range in the next few years, according to a Barron's report.
In its May 13 edition, Barron's cited a recent reduction in Western Union's rates as a catalyst for growth. It also said that business could expand as unemployment levels fall around the world, citing Ariel Investment analyst James Kenney.
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"No one is better positioned to benefit from this long-term secular trend," the paper quoted Kenney who sees Western Union shares rising to the low $20 range in the next few years.
It also said that Deutsche Bank Securities analyst Bryan Keane expects a 2 percent increase in revenue next year in Western Union's consumer-to-consumer business and a 7 percent rise in business-to-business revenue.
(Reporting By Sinead Carew; Editing by Maureen Bavdek)