These Analysts Boost Their Forecasts On Western Alliance After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Western Alliance Bancorporation (NYSE: WAL) reported strong quarterly earnings, beating analyst estimates for both earnings per share and sales. The company posted earnings of $1.75 per share and sales of $771.80 million. Following the announcement, analysts from Piper Sandler and Barclays raised their price targets for the stock. Western Alliance shares rose 7.9% to close at $76.72.
July 22, 2024 | 1:28 pm
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Western Alliance Bancorporation reported strong quarterly earnings, beating analyst estimates for both EPS and sales. Analysts from Piper Sandler and Barclays raised their price targets following the announcement. Shares rose 7.9% to close at $76.72.
The company's strong earnings report and the subsequent increase in price targets by analysts are likely to positively impact the stock price in the short term. The 7.9% increase in share price following the announcement indicates strong investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100