East West Bancorp price target raised to $85 from $77 at Truist

Truist analyst Jennifer Demba raised the firm’s price target on East West Bancorp to $85 from $77 and keeps a Buy rating on the shares after its Q4 earnings beat. The analyst cites the company’s higher net interest income that is offset partially by lower fee income, higher expenses, and higher provisioning. The firm adds that it is "very encouraged" by the bank’s ongoing positive credit quality trends and views the stock’s valuation at 7.9-times expected forward earnings as "attractive".