East West Bancorp price target raised to $119 from $110 at BofA

BofA raised the firm’s price target on East West Bancorp (EWBC) to $119 from $110 and keeps a Buy rating on the shares. The firm raised its price objectives by 8% on average for a selection of small-to-mid-cap banks to reflect an improving outlook driven by Trump policy priorities combined with a U.S. soft landing, which it calls “bullish for bank stocks.”