Shares of Western Alliance Bancorp (WAL) plummeted by 5.05% on Monday, October 21, 2024, as multiple analysts lowered their price targets on the regional bank's stock. The stock decline comes amid broader concerns about the banking sector's performance and economic outlook.
Truist Securities reduced its price target for Western Alliance to $95 from $100, citing valuation concerns, while maintaining a "Buy" rating on the stock. Piper Sandler also trimmed its target price to $101 from $102 but reiterated an "Overweight" rating, expressing confidence in the bank's fundamentals.
J.P. Morgan Chase & Co. lowered its price target for Western Alliance to $105 from $107, reflecting a more cautious view on the bank's near-term growth prospects. However, the firm maintained a positive outlook on the stock, highlighting Western Alliance's strong capital position and potential for continued loan growth.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。