Jefferies raised the firm’s price target on East West Bancorp to $88 from $86 and keeps a Buy rating on the shares. In a Q1 preview for the U.S. banks group, the firm made “modest” estimate revisions, based mostly on a move to expecting six Fed cuts from eight through 2025, softer loan growth, and better capital markets fees. The firm now forecasts three Fed cuts of 25 basis points each in 2024 and three cuts in 2025, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EWBC:
- East West Bancorp price target raised to $88 from $83 at UBS
- East West Bancorp price target raised to $90 from $85 at Truist
- East West Bancorp price target raised to $88 from $83 at Compass Point
- East West Bancorp price target raised to $91 from $85 at Citi
- Barclays Taps 3 Mid-Cap Bank Stocks for up to 50% Upside Potential
Questions or Comments about the article? Write to editor@tipranks.com