Western Alliance price target lowered to $65 from $90 at Wells Fargo

Wells Fargo analyst Timur Braziler lowered the firm’s price target on Western Alliance to $65 from $90 and keeps an Overweight rating on the shares. The firm views the risk/reward as attractive here for Western Alliance with shares trading at 60% of TBV and comes away with a new renewed sense of optimism following its conversation with management.