- BofA analyst Jason Kupferberg downgraded The Western Union Co (NYSE:WU) to Underperform from Buy with a price target of $20, down from $25. The price target implies an 8.4% upside.
- Kupferberg sees “multiple potential headwinds.” New CEO Devin McGranahan is a first-time CEO with limited strategic options.
- Kupferberg believes the Street will continue to view Western Union mainly as a “show me” story even once McGranahan identifies his strategic priorities.
- He also continues to see structural concerns related to competition from pure-play digital remittance providers and possible disruptive threats from newer technologies.
- The Western Union Company is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows, and its leading global financial network bridges more than 200 countries and territories and over 130 currencies.
- Price Action: WU shares traded lower by 4.07% at $17.70 in the premarket session on the last check Thursday.
Affordable Housing, Less Carbon: DOE Funds Texas A&M University 3D-Printed Hempcrete Project
The Department of Energy (DOE) has awarded Texas A&M University $3.47 million to support a project to 3D print a bio-aggregate composite consisting of hemp hurd and a lime-based binder, also known as hempcrete, a material with the potential to lower the environmental impact of traditional construction and make housing more affordable and available,
