BofA raised the firm’s price target on Western Alliance to $98 from $82 and keeps a Buy rating on the shares. The firm pointed out in a research note on Friday that Western Alliance shares outperformed peers by 700bp with Q2 EPS of $1.75, +8c vs. consensus.
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- 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