UBS lowered the firm’s price target on East West Bancorp (EWBC) to $115 from $118 and keeps a Neutral rating on the shares. East West printed a peer-best quarter, led by resilient balance sheet growth, solid credit quality, and fee income momentum, the analyst tells investors in a research note. While margin dynamics also appear favorable near-term, UBS thinks the strong results and other elements are fairly priced in.
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