Wells Fargo raised the firm’s price target on Western Alliance to $85 from $68 and keeps an Equal Weight rating on the shares. The firm notes Western Alliance now trades in-line with its historical 2-3-times price-to-earnings discount to the group, with additional outperformance not likely as faster balance sheet growth is now priced in, while risks remain around regulation, credit, and expenses.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WAL:
- Top Stock Gainers Today – MSTR, COIN, and More
- Western Alliance doesn’t see stock repurchase program in immediate future
- Western Alliance sees Q3 NII continuing to rise, Q4 NII more or less flat to Q3
- Western Alliance price target raised to $90 from $70 at Wedbush
- Western Alliance reports Q2 net interest margin 3.63% vs. 3.42% last year