Piper Sandler raised the firm’s price target on Western Alliance (WAL) to $116 from $115 and keeps an Overweight rating on the shares. The firm expects profitability to improve as PPNR continues to grow with organic growth, rate related relief in ECR deposit costs, and a potential increase in mortgage banking revenue that is not embedded in its FY25 guidance.
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Read More on WAL:
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- Western Alliance reports Q4 EPS $1.95, consensus $1.92
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