In a report published Monday, Jefferies & Company reiterated its Buy rating on Western Alliance Bancorporation WAL, and slightly raised its price target from $12.00 to $12.50.
Jefferies noted, “Following another core EPS beat in 3Q, we leave our above consensus forecast intact with lower credit costs offsetting a softer NIM trajectory. We continue to like WAL as a unique play on both growth and credit recovery at a reasonable price (13x 2013).”
Western Alliance Bancorporation closed on Friday at $10.91.
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