Western Alliance price target raised to $86 from $80 at Stephens

Stephens analyst Andrew Terrell raised the firm’s price target on Western Alliance to $86 from $80 and keeps an Overweight rating on the shares. While Western Alilance EOP deposits for Q4 likely caught some off guard, the Q1 quarter-to-date rebound in deposits as well as the FY23 guidance "clearly" provided incremental comfort following the quarter, the analyst tells investors in a research note. The firm continues to favor the company’s attractive credit quality profile, peer-leading returns, and above-peer growth in a tougher backdrop.