Western Alliance price target lowered to $59 from $60 at Piper Sandler

Piper Sandler analyst Matthew Clark lowered the firm’s price target on Western Alliance to $59 from $60 and keeps an Overweight rating on the shares. The firm also revised its 2023/2024 EPS to $7.12/$7.80 from $7.05/$8.00, based on reported results, stronger net interest income and lower LLPs partly offset by higher ECR deposit costs.