Western Alliance (WAL) Numbers Lifted at Jefferies

April 23, 2013 7:41 AM EDT Send to a Friend
Get Alerts WAL Hot Sheet
Price: $28.66 -1.24%

Rating Summary:
    9 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 23 | New: 27
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Jefferies raised estimates and its price target on Western Alliance Bancorporation (NYSE: WAL) from $16 to $17 following results. The firm maintained a Buy rating.

"We raise our EPS forecast a nickel to account for lighter credit costs, which keeps us above consensus modestly," analyst Casey Haire states. "Despite double-digit growth prospects, credit recovery and EPS accretion from pending Centennial deal, WAL still trades at a discount multiple to peers (12x 2014 vs. 13x peer avg.). We believe WAL's multiple can trade at a premium to the group as legacy assets cure furthe

For an analyst ratings summary and ratings history on Western Alliance Bancorporation click here. For more ratings news on Western Alliance Bancorporation click here.

Shares of Western Alliance Bancorporation closed at $14.14 yesterday.

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