Western Alliance upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank upgraded Western Alliance to Buy from Hold with a price target of $101, up from $83. As the Federal Reserve enters a transitioning to an easing monetary policy, Western Alliance is best positioned to benefit from a path of multiple rate cuts, the analyst tells investors in a research note. While Deutsche Bank does assume robust mortgage growth, it believes that if the mortgage origination backdrop improves significantly, Western Alliance is well positioned to benefit and “provides nice optionality to earnings.”