Bank of America Securities analyst Ebrahim Poonawala reiterated a Buy rating on East West Bancorp yesterday and set a price target of $133.00.
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Ebrahim Poonawala’s rating is based on East West Bancorp’s strong financial performance and strategic positioning. The company reported an impressive third quarter with adjusted earnings per share surpassing expectations, driven by robust fee income and effective cost management. This performance has led to upward revisions in revenue and earnings estimates, prompting an increase in the price objective to $133.
Additionally, East West Bancorp is recognized for its superior growth and profitability, supported by a differentiated business model and a highly capable management team. Despite the stock’s recent outperformance, it is still considered undervalued relative to peers, offering further upside potential. The company’s solid capital position, with higher-than-average capital ratios, provides flexibility for share buybacks and growth opportunities, reinforcing the Buy rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $112.00 price target.
EWBC’s price has also changed moderately for the past six months – from $79.210 to $102.360, which is a 29.23% increase.