Why Western Alliance Stock (WAL) Is Popping Off
Portfolio Pulse from Henry Khederian
Western Alliance Bancorporation (WAL) shares are trading higher by 7.08% after Wedbush maintained an Outperform rating on the stock and raised its price target from $45 to $50. This comes despite the company reporting worse-than-expected Q2 results and a drop in net interest margin. Bank stocks are generally trading higher following strong earnings from multiple companies in the sector.
July 19, 2023 | 7:35 pm
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Western Alliance Bancorporation's stock is trading higher despite worse-than-expected Q2 results. This is likely due to Wedbush's maintained Outperform rating and increased price target.
The stock is trading higher likely due to the positive sentiment from Wedbush's rating and increased price target, which can often influence investor behavior. Despite the poor Q2 results, the overall positive trend in the banking sector may also be contributing to the stock's performance.
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