Western Alliance price target raised to $50 from $45 at Wedbush

Wedbush analyst David Chiaverini raised the firm’s price target on Western Alliance to $50 from $45 and keeps an Outperform rating on the shares. The firm notes that Western Alliance reported a mixed quarter highlighted by period end deposits increasing a strong $3.5B to $51B, or 7% sequentially, and this strong momentum has continued Q3-to-date with deposits increasing an additional $3.2B as of 7/17.