East West Bancorp price target raised to $100 from $92 at DA Davidson

DA Davidson raised the firm’s price target on East West Bancorp to $100 from $92 and keeps a Buy rating on the shares. The company’s Q2 net interest margin compressed less than projected as a full quarter benefit of bond purchases made in the first quarter was a positive tailwind in the second quarter, the analyst tells investors in a research note. DA Davidson adds that it anticipates modest additional net interest margin compression from here, but also sees Q2 marking the net interest income bottom for the bank.