Western Alliance price target lowered to $95 from $100 at Truist

Truist lowered the firm’s price target on Western Alliance (WAL) to $95 from $100 and keeps a Buy rating on the shares as part of a broader research note recapping Q3 results for Community/Regional banks. The firm’s revisions reflect the company’s lower net interest income and higher near term expenses, the analyst tells investors in a research note. Truist adds however that it is forecasting 17% pre-provision net revenue growth for the bank in 2025 as better loan growth, mortgage volumes, and lower ECR – earnings credit rate – are supporting improving operating leverage.