Stephens initiated coverage of East West Bancorp with an Overweight rating and $79 price target. The analyst believes the stock’s “currently discounted valuation” presents a “compelling opportunity.” The bank’s excess capital position remains well in excess of peers and should translate to earnings upside over time, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on EWBC:
- East West Bancorp upgraded to Overweight from Equal Weight at Morgan Stanley
- Citi starts regional banks with Western Alliance, First Horizon among top picks
- East West Bancorp initiated with a Buy at Citi
- East West Bancorp added to DA Davidson Best-of-Breed Bison initiative
- East West Bancorp price target raised to $66 from $61 at UBS
