BUZZ-Barclays cuts Western Alliance PT to $90 on elevated credit risk

Reuters03-18
BUZZ-Barclays cuts <a href="https://laohu8.com/S/WALA">Western Alliance</a> PT to $90 on elevated credit risk

** Barclays cuts regional lender Western Alliance Bancorp WAL.N PT to $90 from $105, implying a 32% upside to stock's last close

** Says headline risk around credit will likely continue to weigh on at WAL valuation until there is actual resolution

** WAL earlier this month sued investment bank Jefferies Financial JEF.N for not completing a payment of $126.4 million it owed for loans tied to bankrupt auto parts supplier First Brands Group and said it would charge-off for the entire amount

** "While the capital impact of both realized and potential losses from high​-​profile issues such as First Brands​/​Leucadia and Cantor Group V remains manageable, the initial 2026 net charge​-​off guidance excluding these items was also higher than that of peers" - Barclays analyst Jared Shaw

** As of last close, WAL stock down 18.9% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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