Wells Fargo Downgrades Western Alliance to Equal-Weight, Raises Price Target to $72
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Jared Shaw has downgraded Western Alliance (NYSE:WAL) from Overweight to Equal-Weight while raising the price target from $62 to $72.

January 30, 2024 | 10:53 am
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Western Alliance was downgraded by Wells Fargo from Overweight to Equal-Weight, although the price target was raised from $62 to $72.
The downgrade to Equal-Weight suggests a neutral outlook on the stock, indicating that Wells Fargo believes the stock might perform in line with the market. However, the increase in the price target to $72 reflects a positive view on the company's valuation, which could counterbalance the downgrade's negative impact. Investors may perceive the price target raise as a sign of underlying value, potentially mitigating any negative sentiment from the downgrade.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100