Western Alliance price target lowered to $85 from $105 at RBC Capital

RBC Capital lowered the firm’s price target on Western Alliance (WAL) to $85 from $105 and keeps an Outperform rating on the shares. The company’s Q1 results were driven by favorable balance sheet growth as management generally reiterated expectations for 2025, the analyst tells investors in a research note. The environment has introduced uncertainty, but the management is confident that their business mix can drive consistent growth, RBC adds.