Goldman Sachs downgraded Western Union Co. (NYSE: WU) from Buy to Neutral with a price target of $14.00 (from $22.00) on weaker near-term outlook versus our expectations. They also expect the new announced price and cost initiatives to wipe out the prospects for 2013 EPS growth.

"Specifically, WU announced plans to implement price reductions in key corridors, investments in its digital offerings and other cost saving initiatives. As a result, we now expect 2013 constant currency revenues to decline and operating income to fall 10%-15% yoy," the analyst said.

The firm cut 2013/2014 EPS forecast by over 20%.

For an analyst ratings summary and ratings history on Western Union Co. click here. For more ratings news on Western Union Co. click here.

Shares of Western Union Co. closed at $12.73 yesterday, with a 52 week range of $12.48-$19.82.

Analyst EPS Change Analyst EPS View Analyst PT Change Downgrades

Another Analyst Blasts Western Union (WU) as Guidance DisappointsOctober 31, 2012 10:46 AM DA Davidson Downgrades Western Union Co. (WU) to UnderperformOctober 31, 2012 10:41 AM William Blair Downgrades Western Union Co. (WU) to Market PerformOctober 31, 2012 10:40 AM Sterne Agee Downgrades Western Union Co. (WU) to NeutralOctober 31, 2012 10:40 AM Wells Fargo Downgrades Western Union Co. (WU) to Market Perform after Q3, Competition WeighingOctober 31, 2012 8:40 AM Evercore Partners Downgrades Western Union Co. (WU) to UnderweightOctober 31, 2012 8:09 AM CLSA Downgrades Western Union Co. (WU) to SellOctober 31, 2012 8:08 AM SunTrust Robinson Humphrey Downgrades Western Union Co. (WU) to NeutralOctober 31, 2012 8:07 AM Western Union (WU) Tops Q3 EPS by 1c; Cuts OutlookOctober 30, 2012 4:07 PM