Truist Securities Maintains Buy on East West Bancorp, Lowers Price Target to $62
Portfolio Pulse from richadhand@benzinga.com
Truist Securities analyst Jennifer Demba maintains a 'Buy' rating on East West Bancorp (NASDAQ:EWBC) but lowers the price target from $64 to $62.
June 29, 2023 | 2:47 pm
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East West Bancorp's price target has been lowered from $64 to $62 by Truist Securities, though the 'Buy' rating is maintained.
The lowering of the price target by Truist Securities could potentially create a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintained 'Buy' rating indicates that the analyst still sees potential upside, which could counterbalance the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100