Truist analyst Brandon King raised the firm’s price target on Western Alliance to $60 from $50 and keeps a Buy rating on the shares after its Q2 results. The firm is also raising its FY23 EPS view by 47c to $8.33 and its FY24 view by 40c to $8.35 to reflect higher net interest income and mortgage banking revenue. Western Alliance’s balance sheet repositioning efforts have put the company in a stronger position for sustainable core banking relationship growth, the analyst tells investors in a research note.
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