The Western Union Co

WU: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$45.00	Xyblf	Pznlbmg

Western Union Earnings: Making a Return to Growth

Brett Horn

Jul 27, 2023

While the company still faces some headwinds, Western Union appears to have experienced some improvement in the second quarter. We see the quarter as encouraging, but the results don’t materially alter our long-term view, and we will maintain our $17 fair value estimate for the narrow-moat company. We believe shares are meaningfully undervalued at the moment.

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