BofA raised the firm’s price target on East West Bancorp (EWBC) to $125 from $112 and keeps a Buy rating on the shares. The firm adjusted regional bank price targets as part of a Q2 earnings preview. A lack of interest rate cuts delay a rebound in growth, but “resilient” earnings, an acceleration in loan growth, and investment banking activity server as catalysts for the stocks, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EWBC:
- East West Bancorp price target raised to $110 from $102 at Truist
- East West Bancorp price target raised to $110 from $99 at UBS
- East West Bancorp price target raised to $135 from $110 at Barclays
- East West Bancorp price target raised to $111 from $90 at Morgan Stanley
- East West Bancorp price target raised to $116 from $100 at Citi