UPDATE: Sterne Agee Raises PacWest's PT

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According to a research report published this morning, Sterne Agee has increased PacWest's
PACW
PT from $25 to $28. Sterne Agee commented in the report, "Discussions focused on the loan growth outlook, profitability targets and operating efficiency goals, and the M&A outlook. While management remains confident in the ongoing credit quality improvement, margin outlook, and resulting earnings trajectory, the focus for 2012/2013 is centered on growth through acquisition (primarily banks and asset generator platforms), operating efficiency gains, and disciplined loan underwriting/pricing. Organic loan growth is expected to remain challenging for the foreseeable future." Sterne Agee maintains its Neutral rating on PacWest, which closed yesterday at $24.08.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsSterne Agee
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