In a report published Monday, Keefe, Bruyette & Woods analyst Brian Klock upgraded the rating on Western Alliance Bancorporation WAL from Market Perform to Outperform, and raised the price target from $27.00 to $28.00.
In the report, Keefe, Bruyette & Woods noted, “We are raising WAL shares to Outperform from Market Perform and our target price $1 to $28. We believe sticky and strong loan growth (mid-teens q/q ann'l) and NIM (stable q/q) trends bode well for future top-line growth. On expenses, WAL has achieved a level of operating leverage we didn't expect until mid-'15. We think credit, which has been marked by net recoveries in 4 of the last 5 qtrs, has become a tailwind. We are raising our '14e EPS +10c to $1.66, '15e +21c to $1.89, and '16e +22c to $2.08.”
Western Alliance Bancorporation closed on Friday at $23.30.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in