Piper Sandler raised the firm’s price target on Western Alliance to $93 from $76 and keeps an Overweight rating on the shares. The firm is also raising its 2024/2025 EPS to $7.25/$9.25 from $7.24/$8.91 based on higher net interest income, deposit service costs, LLPs and updated guide. Piper likes the growth momentum Western Alliance is experiencing on both sides of the balance sheet and expects the shares to re-rate higher as profitability ramps.
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