UBS lowered the firm’s price target on Western Alliance (WAL) to $106 from $107 and keeps a Buy rating on the shares. Mid-cap banks have delivered strong results and avoided early Q4 credit concerns, the analyst tells investors in a research note. Investor momentum into regional banks is expected to continue, supported by curve steepening, accelerating loan growth, and M&A activity such as Santander’s (SAN) acquisition of Webster (WBS).
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