Piper Sandler lowered the firm’s price target on East West Bancorp to $87 from $92 and keeps a Neutral rating on the shares. After the close on Friday, East West Bancorp filed a new slide deck for its upcoming presentation at a competitor conference on Monday, September 9 that included slightly revised guidance, the firm notes. Specifically, the company trimmed its FY24 EOP loan growth outlook to 2%-4% from 3%-5% but also lowered its FY24 tax credit amortization expense to $45M-$55M from $60M-$65M.
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