JPMorgan lowered the firm’s price target on Western Alliance (WAL) to $77 from $105 and keeps a Neutral rating on the shares. To reflect the ongoing Iran conflict and a backdrop of no rate cuts being priced in this year per the forward curve, JPMorgan reduced year-end 2026 price targets in the small- and mid-cap bank group by 10% on average ahead of the Q1 reports.
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