PacWest Bancorp price target lowered to $26 from $29 at DA Davidson

DA Davidson analyst Gary Tenner lowered the firm’s price target on PacWest Bancorp to $26 from $29 but keeps a Buy rating on the shares. The company’s end-of-week update on Friday was generally positive, and though its funding has been under pressure, signs of stabilization of deposits since March 13th should help support the stock, the analyst tells investors in a research note.