Citigroup Initiates Coverage On East West Bancorp with Buy Rating, Announces Price Target of $75
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Ben Gerlinger has initiated coverage on East West Bancorp (NASDAQ:EWBC) with a Buy rating and set a price target of $75.
December 01, 2023 | 10:14 am
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Citigroup analyst Ben Gerlinger initiated coverage on East West Bancorp with a Buy rating and a price target of $75.
Analyst ratings, especially from major financial institutions like Citigroup, can significantly influence investor sentiment and stock prices. A Buy rating typically suggests that the analyst believes the stock will perform well and outperform the market or its sector in the short term. The announcement of a price target of $75, which is presumably higher than the current trading price, indicates an expectation of upward movement in the stock's price.
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