UPDATE: Wunderlich Securities Downgrades PacWest Bancorp to Hold
According to Wunderlich Securities, PacWest Bancorp (NASDAQ: PACW) is downgraded to Hold.
Wunderlich Securities said that it is downgrading shares of PacWest Bancorp (PACW) to Hold from Buy as the shares have achieved our $23 price target. “However, we believe such progress is largely discounted in the current share price, and the lack of a near-term catalyst to drive the shares meaningfully higher moves us to the sidelines at this point.”
PacWest Bancorp closed yesterday at $22.95.
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