Western Alliance has put the spring's regional banking crisis in the rearview mirror and will be able to sustain its recent rally, according to JPMorgan.
Shares of the bank rose more than 7% on Wednesday after the report was released.
WAL 5D mountain Shares of Western Alliance rose sharply on Wednesday.
But even with that rally, the stock is still down about 37% from where it ended February, before the regional banking crisis.
The firm's new price target represents upside of nearly 30% from where Western Alliance's shares closed on Wednesday.
Persons:
Steven Alexopoulos, Alexopoulos, FactSet's, — CNBC's Michael Bloom
Organizations:
Western Alliance, JPMorgan, Western
Locations:
Republic