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East West Bancorp initiated with a Buy at Deutsche Bank

Deutsche Bank initiated coverage of East West Bancorp (EWBC) with a Buy rating and $133 price target which offers 17% upside potential. The firm says East West is a “high quality” midcap bank that has characteristics of a large cap bank. The bank has strong returns on tangible common equity versus peers and industry-leading low loss reserves, the analyst tells investors in a research note.

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