Western Alliance Bancorporation Confident in Growth, Credit Outlook, RBC Capital Markets Says
RBC Capital Markets reiterated its Outperform rating and $75 price target on Western Alliance Bancorporation (WAL), citing management's confidence in the bank's strong growth and stable credit outlook. The report highlights the bank's ability to maintain a flat net interest margin (NIM) in Q1 with expectations for future expansion, alongside robust deposit growth and a healthy allowance for credit losses. Despite recent market volatility, RBC believes the current stock valuation presents an attractive entry point given the bank's solid fundamentals and future prospects.