Keefe, Bruyette & Woods Lowering Rating on PacWest To Market Perform

According to Keefe, Bruyette & Woods, PacWest Bancorp PACW rating is lowered to Market Perform on valuation. Keefe, Bruyette & Woods reported that it is lowering its rating on PACW to Market Perform on valuation as there is less than 2% potential upside to its $23 target price. “We continue to like the company, but would wait for a more attractive entry point.” PacWest Bancorp closed yesterday at $22.58.