UBS upgraded East West Bancorp (EWBC) to Buy from Neutral with an unchanged price target of $125 after assuming coverage of the name. The bank’s “consistent growth, best-in-class efficiency,” and “robust” capital position make it a core long-term holding in the regional banks space, the analyst tells investors in a research note. UBS sees “multiple paths to upside” for the shares, including incremental loan growth and enhanced capital returns.
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