East West Bancorp price target raised to $93 from $88 at Compass Point

Compass Point raised the firm’s price target on East West Bancorp to $93 from $88 and keeps a Buy rating on the shares. The firm is raising its FY24 and FY25 core EPS forecasts to $8.15 and $9.10 from $7.83 and $9.00, respectively, reflecting stronger core net interest income and margin, a lower tax rate and share count, stronger fee income in FY24, and modestly lower expenses.