Barclays Starts Western Alliance Bancorporation (WAL) at Overweight
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Barclays initiates coverage on Western Alliance Bancorporation (NYSE: WAL) with a Overweight rating and a price target of $58.00.
Analyst Matthew Keating comments "Population growth projections and household income in WAL’s core footprint are well above national averages. Due to industry consolidation, there are only a few banks its size left in its footprint. WAL’s combination of the sophisticated product set of large banks and the high client service levels of small banks should allow it to continue taking share from the big bureaucratic banks operating in its metropolitan markets."
Shares of Western Alliance Bancorporation closed at $50.96 yesterday.
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