East West Bancorp price target raised to $111 from $90 at Morgan Stanley

Morgan Stanley raised the firm’s price target on East West Bancorp (EWBC) to $111 from $90 and keeps an Equal Weight rating on the shares. Midcap banks are trading at their widest discount to the largest banks in over 10 years, and the setup is positive going into earnings with green shoots on loan acceleration, benign credit and ongoing benefits to net interest income, the analyst tells investors in a research note.