Odeon Capital analyst Richard Bove initiated coverage of PacWest Bancorp PACW, +1.07% on Thursday with a Hold rating. Bove stated that although the company is still in a high risk situation, the fears of the company going out of business may have diminished. Speculators could continue to buy the stock. Bove stated that PacWest is stabilizing at the moment after selling assets and purchasing brokered deposits with rates as high as 5.35%. After announcing recently that it was exploring alternative strategic options, the bank could find a buyer to buy all or part its business. Bove stated that if the bank does not experience any more large deposits outflows it could succeed in its search, although the price of the company offered may be below the market value. PacWest’s stock rose 2.5% Thursday in premarket trading, following a 14.4% gain on Wednesday.