Western Alliance price target lowered to $86 from $91 at Barclays

Barclays analyst Jared Shaw lowered the firm’s price target on Western Alliance to $86 from $91 and keeps an Overweight rating on the shares. While elevated ECR-related expenses are a near-term negative, Western proves its differentiated model with the Q1 results, the analyst tells investors in a research note. The firm says the balance sheet growth guide was revised higher and early completion of liquidity build adds leverage to forward profitability.