DA Davidson analyst Gary Tenner raised the firm’s price target on East West Bancorp (EWBC) to $107 from $100 and keeps a Buy rating on the shares after its Q3 earnings beat. The company’s net interest margin compressed less than projected, and stronger than expected balance sheet growth contributed to sequential net interest income growth, the analyst tells investors in a research note. The firm adds that Q2 should mark a bottom in East West’s net interest income as volume growth should support top line revenue levels.
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