Jefferies Boosts Price Target on Western Alliance (WAL), Sees Valuation Gap With Peers Closing

Jefferies raised its price target on Western Alliance Bancorporation (NYSE: WAL) from $8.50 to $9.50 following "solid" Q4 results. The firm reiterated their Buy rating.

Despite consistently outperforming peers the stocks continues to trade at a significant discount. Jefferies expects this valuation gap to close as management works through lingering credit issues, specifically OREO exposures.

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 $7.87 yesterday.

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