Keefe, Bruyette & Woods Maintains Market Perform on Hope Bancorp, Lowers Price Target to $12
Portfolio Pulse from Benzinga Newsdesk
Keefe, Bruyette & Woods analyst Christopher Mcgratty has maintained a Market Perform rating on Hope Bancorp (NASDAQ:HOPE) and lowered the price target from $13 to $12.
May 01, 2024 | 2:38 pm
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Hope Bancorp's price target was lowered from $13 to $12 by Keefe, Bruyette & Woods, but the Market Perform rating was maintained.
The lowering of the price target by an analyst can often lead to a negative short-term reaction in the stock price as it may adjust to the new analyst expectations. However, maintaining the Market Perform rating suggests that the analyst sees no significant deterioration in the company's fundamentals, which might limit the downside.
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IMPORTANCE 75
RELEVANCE 100