UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Western Alliance Bancorporation

In a report published Monday, Jefferies reiterated its Buy rating on Western Alliance Bancorporation WAL, and raised its price target from $12.50 to $15.00. Jefferies noted, “Post strong 4Q results, we raise our '13/'14 estimates to $0.95/$1.15 (from $0.85/$0.95). WAL continues to take advantage of a weak competitive landscape via organic growth and is now executing successfully on M&A opportunities (e.g. Western Liberty/Centennial deals). Despite a strong run (up 55% since 1/27/12), we still see a "Vegas" discount in P/E (12.5x vs. 14x peer avg.) with room for multiple expansion. Reiterate Buy.” Western Alliance Bancorporation closed on Friday at $12.36.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsJefferies
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!