Western Alliance price target lowered to $92 from $93 at Truist

Truist lowered the firm’s price target on Western Alliance (WAL) to $92 from $93 and keeps a Buy rating on the shares as part of a broader research note on Regional Banks. Investor preference is still very skewed toward bigger bank stocks right now as the deregulatory benefits are more obvious for bigger banks, while capital markets remain strong and could get even more robust with lower rates, the analyst tells investors in a research note. Better reception for M&A has been the most widely cited catalyst for a catchup for regional bank stocks, along with curve steepening and accelerating loan and deposit growth, the firm added.