DA Davidson has adjusted its price target for Western Alliance Bancorporation (WAL, Financial), bringing it down from $106 to $90. This decision comes following the company's first-quarter financial results, which revealed pre-provision net revenue per share came in below expectations.
The revision was influenced by increased levels of criticized loans, which are currently affecting the stock's performance. Despite this setback, DA Davidson maintains a Buy rating on WAL shares, suggesting confidence in the bank's potential, even as credit remains a pressing short-term issue.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for Western Alliance Bancorp (WAL, Financial) is $98.08 with a high estimate of $112.00 and a low estimate of $80.00. The average target implies an upside of 50.10% from the current price of $65.34. More detailed estimate data can be found on the Western Alliance Bancorp (WAL) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, Western Alliance Bancorp's (WAL, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Western Alliance Bancorp (WAL, Financial) in one year is $91.71, suggesting a upside of 40.36% from the current price of $65.34. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Western Alliance Bancorp (WAL) Summary page.
